ESSENTIAL UTILITIES, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements (continued) (In thousands of dollars, except per share amounts)
Maturities of operating lease liabilities and a reconciliation of the operating lease liabilities reported on our consolidated balance sheets as of December 31, 2025 are as follows: Operating Leases 2026 $ 7,906 2027 7,663 2028 6,988 2029 1,094 2030 602 Thereafter 12,225 Total operating lease payments $ 36,478
Total operating lease payments Less operating lease liabilities
$
36,478 28,271
Present value adjustment
$
8,207
Note 12 – Long-term Debt and Loans Payable
Long-term Debt – The consolidated statements of capitalization provide a summary of long-term debt as of December 31, 2025 and 2024. The supplemental indentures with respect to specific issues of the first mortgage bonds restrict the ability of Aqua Pennsylvania and other operating subsidiaries of the Company to declare dividends, in cash or property, or repurchase or otherwise acquire the stock of these companies. Loan agreements for Aqua Pennsylvania and other operating subsidiaries of the Company have restrictions on minimum net assets. As of December 31, 2025, restrictions on the net assets of the Company were $5,321,334 of the total $6,857,456 in net assets. As of December 31, 2025, $2,924,447 of Aqua Pennsylvania’s retained earnings of $2,944,447 and $431,127 of the retained earnings of $646,538 of other subsidiaries were free of these restrictions. Some supplemental indentures also prohibit Aqua Pennsylvania and some other subsidiaries of the Company from making loans to, or purchasing the stock of, the Company. Sinking fund payments are required by the terms of specific issues of long-term debt. Excluding amounts due under the Company’s revolving credit agreement and commercial paper program, the future sinking fund payments and debt maturities of the Company’s long-term debt are as follows:
Interest Rate Range
2026
2027
2028
2029
2030
Thereafter
0.00% to 0.99% 1.00% to 1.99% 2.00% to 2.99% 3.00% to 3.99% 4.00% to 4.99% 5.00% to 5.99% 6.00% to 6.99% 7.00% to 7.99% 8.00% to 8.99% 9.00% to 9.99%
$
231 $
199 $ 199 $
199 $ 1,091 $
5,409
1,076 1,303
2,088 1,111
2,143
3,263
2,378
13,029 600,207
906 357
774
500,569
792
204,574 501,625
400,336
189
1,771,149 1,612,606 1,929,260
1,620
1,630 3,000
1,558
1,525
-
-
- - - - -
- - - -
5,000
20,000
- - - -
6,000
- -
4,652
- - -
- -
11,800
-
Total
$ 21,822 $ 734,249 $ 8,235 $ 406,130 $ 505,752 $ 5,937,660
60
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