Leasing Transactions, As a Lessee | Leasing Transactions On January 1, 2019, we adopted ASC 842 using the modified retrospective transition method and elected to not restate prior year comparative periods. We elected to adopt the package of practical expedients; accordingly, we retained the lease classification and initial direct costs for any leases that existed prior to adoption and we did not revisit whether any existing or expired contracts contain leases. As a result of adopting ASC 842 on January 1, 2019, we recognized operating lease assets of $1,785,866 and operating lease liabilities of $1,996,957 . We also recognized an adjustment to our beginning accumulated deficit, net of taxes, of $86,243 consisting of (i) the previously recognized deferred gain on sale leaseback transactions of $113,712 , (ii) the previously recognized liability for certain failed sale leaseback transactions recognized as financings of $1,591 and (iii) the related tax effect of $29,060 . As a Lessee We have lease agreements covering many of our properties, as well as various equipment, with the most significant leases being our five leases with HPT, which are further described below. Certain of our leases include renewal options and purchase options. Renewal periods are included in calculating our operating lease assets and liabilities when they are reasonably certain. Leases with an initial term of 12 months or less are not recognized in our consolidated balance sheets. As of June 30, 2019 , all of our leases were classified as operating leases. Certain of our operating leases provide for variable lease costs, which primarily include percentage rent and our obligation for the estimated cost of removing underground storage tanks under the HPT Leases (as defined below). Our lease costs are included in various balances in our consolidated statements of operations and comprehensive income (loss), as shown in the following table. For the three and six months ended June 30, 2019 , our lease costs consisted of the following: Classification in our Consolidated Statements of Operations and Comprehensive Income (Loss) Three Months Ended Six Months Ended Operating lease costs: HPT Leases Real estate rent expense $ 59,424 $ 121,544 Operating lease costs: other Real estate rent expense 2,752 5,476 Variable lease costs: HPT Leases Real estate rent expense 1,465 2,886 Variable lease costs: other Real estate rent expense 129 277 Total real estate rent expense 63,770 130,183 Operating lease costs: equipment and other Site level operating expense and selling, general and administrative expense 647 1,217 Short-term lease costs Site level operating expense and selling, general and administrative expense 732 1,545 Sublease income Nonfuel revenues (591 ) (1,155 ) Net lease costs $ 64,558 $ 131,790 Maturities of our operating lease liabilities that had remaining noncancelable lease terms in excess of one year and the amount of those liabilities as of June 30, 2019 , were as follows: HPT Leases (1) Other Total Years ended December 31: 2019 $ 135,712 $ 3,493 $ 139,205 2020 271,331 6,073 277,404 2021 270,794 4,952 275,746 2022 268,931 3,922 272,853 2023 255,338 2,697 258,035 Thereafter 2,289,605 7,890 2,297,495 Total operating lease payments 3,491,711 29,027 3,520,738 Less: present value discount (2) (1,519,135 ) (5,473 ) (1,524,608 ) Present value of operating lease liabilities $ 1,972,576 $ 23,554 $ 1,996,130 (1) Includes rent for properties we sublease from HPT and pay directly to HPT's landlords. (2) The discount rate used to derive the present value of unpaid lease payments is based on the rates implicit in the leases, if available, or our incremental borrowing rate. The weighted average remaining lease term as of June 30, 2019 , was 14 years. Our weighted average discount rate as of June 30, 2019 , was 9.4% . During the six months ended June 30, 2019 , we paid $138,670 for amounts that had been included in the measurement of our operating lease liabilities. As of June 30, 2019 , our operating lease assets and liabilities consisted of the following: HPT Leases Other Total Operating lease assets $ 1,795,375 $ 22,326 $ 1,817,701 Current operating lease liabilities 91,638 5,660 97,298 Noncurrent operating lease liabilities 1,880,938 17,894 1,898,832 As previously disclosed in our Annual Report and under the previous lease accounting standard, future minimum lease payments required under leases that had remaining noncancelable lease terms in excess of one year as of December 31, 2018 , were as follows (included herein are the full payments then due under the HPT Leases, including the amount attributed to the lease of those sites that were accounted for as a financing as of December 31, 2018, in our consolidated balance sheet as reflected in the sale leaseback financing obligations): Total Years ended December 31: 2019 $ 302,855 2020 301,220 2021 299,393 2022 296,551 2023 295,534 Thereafter 1,980,078 Total $ 3,475,631 The amounts in the table above are as of December 31, 2018, and do not reflect the $43,148 annual minimum rent reduction resulting from the Transaction Agreements entered into in January 2019, as further described below. Leasing Agreements with HPT As of June 30, 2019 , we leased from HPT a total of 179 properties under five leases, four of which we refer to as the TA Leases and one of which we refer to as the Petro Lease, and which we refer to collectively as the HPT Leases. In January 2019, we entered into the Transaction Agreements, pursuant to which: • In January 2019, we purchased from HPT 20 travel center properties, which we previously leased from HPT, for a total purchase price of $309,637 , including $1,437 of transaction related costs. • As a result of our purchases of the 20 travel center properties, our annual minimum rent due to HPT was reduced by $43,148 . • The term of each HPT Lease was extended by three years. • Commencing on April 1, 2019 , we paid to HPT the first of 16 quarterly installments of approximately $4,404 each (an aggregate of $70,458 ) to fully satisfy and discharge our $150,000 deferred rent obligation to HPT that otherwise would have become due in five installments between 2024 and 2030. • Commencing with the year ending December 31, 2020 , we will be obligated to pay to HPT an additional amount of percentage rent equal to one-half percent ( 0.5% ) of the excess of our annual nonfuel revenues at leased sites over the nonfuel revenues for each respective site for the year ending December 31, 2019 . • Certain of the 179 travel center properties that we continue to lease from HPT were reallocated among the HPT Leases. As a result of the Transaction Agreements, our operating lease assets and liabilities each increased by $23,673 . In addition, the purchase of the 20 travel center properties resulted in the derecognition of certain lease assets and liabilities. See Note 3 for more information about these acquisitions. In addition to the payment of annual minimum rent, the TA Leases provide for payment to HPT of percentage rent, based on increases in total nonfuel revenues at a property over base year levels ( 3.0% of nonfuel revenues above 2015 nonfuel revenues) and the Petro Lease provides for payment to HPT of percentage rent based on increases in total nonfuel revenues at a property over base year levels at such property ( 3.0% of nonfuel revenues above 2012 nonfuel revenues). The percentage rent amounts due were $958 and $862 for the three months ended June 30, 2019 and 2018 , respectively, and $2,027 and $1,672 for the six months ended June 30, 2019 and 2018 , respectively. We recognized total rent expense under the HPT Leases of $60,889 and $68,068 for the three months ended June 30, 2019 and 2018 , respectively, and $124,430 and $135,706 for the six months ended June 30, 2019 and 2018 , respectively. During the six months ended June 30, 2018 , we sold to HPT $28,836 of improvements we made to properties leased from HPT; as a result, pursuant to the terms of the HPT Leases, our annual minimum rent payable to HPT increased by $2,451 . During the six months ended June 30, 2019, we did not sell to HPT any improvements we made to properties leased from HPT. At June 30, 2019 , our property and equipment balance included $26,095 of improvements of the type that we typically request that HPT purchase for an increase in annual minimum rent; however, we may elect not to sell some of those improvements and HPT is not obligated to purchase these improvements. Pursuant to a rent deferral agreement with HPT, deferred rent shall be accelerated and interest shall begin to accrue thereon at 1.0% per month on the deferred rent amounts if certain events occur, including: our default under the HPT Leases; a change of control of us, as defined in the deferral agreement; or our declaration or payment of a dividend or other distribution in respect of our common shares. The HPT Leases allow us to sublease a portion of the leased properties to a third party. We sublease a portion of certain travel centers to third parties to operate other retail operations, which are classified as operating leases. We recognized sublease rental income of $591 and $598 for the three months ended June 30, 2019 and 2018 , respectively, and $1,155 and $1,178 for the six months ended June 30, 2019 and 2018 , respectively. The following table summarizes the various amounts related to the HPT Leases that were included in our consolidated balance sheet as of December 31, 2018. December 31, Current HPT Leases liabilities: Accrued rent $ 24,721 Sale leaseback financing obligations (1) 1,032 Straight line rent accrual (2) 2,458 Deferred gain (3) 10,128 Deferred tenant improvements allowance (4) 3,770 Total current HPT Leases liabilities $ 42,109 Noncurrent HPT Leases liabilities: Deferred rent obligation (5) $ 150,000 Sale leaseback financing obligations (1) 22,365 Straight line rent accrual (2) 46,431 Deferred gain (3) 100,913 Deferred tenant improvements allowance (4) 34,047 Total noncurrent HPT Leases liabilities $ 353,756 (1) Sale Leaseback Financing Obligations. As of December 31, 2018, the assets related to two travel centers we leased from HPT were reflected in our consolidated balance sheet, as were the related financing obligations. This accounting was required primarily because, at the time of the inception of the prior leases with HPT, more than a minor portion of these two travel centers was subleased to third parties. Upon adoption of ASC 842 on January 1, 2019, these failed sale leasebacks were reclassified as operating leases, which resulted in a gain that was recognized in our beginning accumulated deficit. See above for more information about the impact of adopting ASC 842. (2) Straight Line Rent Accrual. As of December 31, 2018, the straight line rent accrual included the accrued rent expense from 2007 to 2012 for stated increases in our annual minimum rent due under our then existing TA Lease. The TA Leases we entered into in connection with a transaction agreement we entered into with HPT in 2015 contain no stated rent payment increases. Prior to the adoption of ASC 842, we amortized this accrual on a straight line basis over the current terms of the TA Leases as a reduction of real estate rent expense. The straight line rent accrual also included our obligation for the estimated cost of removing underground storage tanks at properties leased from HPT at the end of the related lease; we recognized these obligations on a straight line basis over the term of the related leases as additional real estate rent expense. As of January 1, 2019, the straight line rent accrual was reclassified as a reduction to our operating lease assets and the obligation for the estimated cost of removal of underground storage tanks was reclassified to other noncurrent liabilities. (3) Deferred Gain. The deferred gain primarily includes $145,462 of gains from the sales of travel centers and certain other assets to HPT during 2015 and 2016. Prior to the adoption of ASC 842, we amortized the deferred gains on a straight line basis over the terms of the related leases as a reduction of real estate rent expense. Upon adoption of ASC 842 on January 1, 2019, we recognized the unamortized deferred gain of $85,053 , net of taxes, in our beginning accumulated deficit. See above for more information about the impact of adopting ASC 842. (4) Deferred Tenant Improvements Allowance. HPT funded certain capital projects at the properties we lease under the HPT Leases without an increase in rent payable by us. In connection with HPT's initial capital commitment, we recognized a liability for rent deemed to be related to this capital commitment as a deferred tenant improvements allowance. Prior to the adoption of ASC 842, we amortized the deferred tenant improvements allowance on a straight line basis over the terms of the HPT Leases as a reduction of real estate rent expense. Upon the adoption of ASC 842 on January 1, 2019, the unamortized balance of the deferred tenant improvements allowance was reclassified as a reduction to our operating lease assets. (5) Deferred Rent Obligation . Pursuant to a rent deferral agreement with HPT, we previously deferred as of December 31, 2010, a total of $150,000 of rent payable to HPT, which remained outstanding as of December 31, 2018, and had been due in five installments between 2024 and 2030. Upon the adoption of ASC 842 on January 1, 2019, these future lease payments were included in our calculation of our operating lease assets and liabilities and the deferred rent obligation was reclassified as a reduction to our operating lease assets. In January 2019, as described above and pursuant to the terms of the Transaction Agreements, our deferred rent obligation was reduced to $70,458 , payable in 16 equal quarterly installments commencing on April 1, 2019, and our operating lease assets and liabilities were remeasured using these revised payment amounts. As a Lessor As of June 30, 2019 , we leased two travel centers to franchisees. These two lease agreements expire in June 2022. These leases include rent escalations that are contingent on future events, namely inflation or our investing in capital improvements at these travel centers. During the six months ended June 30, 2018 , we leased four travel centers to franchisees, one of which expired prior to June 30, 2018 , and one expired in the 2018 third quarter. Rent revenue from these operating leases totaled $599 and $815 for the three months ended June 30, 2019 and 2018 , respectively, and $1,150 and $1,812 for the six months ended June 30, 2019 and 2018 , respectively. Future minimum lease payments due to us for the two leased sites under these operating leases as of June 30, 2019 , was $1,125 for the remainder of 2019 , $2,250 for each of the years 2020 and 2021 and $1,125 for 2022 . |
Leasing Transactions, As a Lessor | Leasing Transactions On January 1, 2019, we adopted ASC 842 using the modified retrospective transition method and elected to not restate prior year comparative periods. We elected to adopt the package of practical expedients; accordingly, we retained the lease classification and initial direct costs for any leases that existed prior to adoption and we did not revisit whether any existing or expired contracts contain leases. As a result of adopting ASC 842 on January 1, 2019, we recognized operating lease assets of $1,785,866 and operating lease liabilities of $1,996,957 . We also recognized an adjustment to our beginning accumulated deficit, net of taxes, of $86,243 consisting of (i) the previously recognized deferred gain on sale leaseback transactions of $113,712 , (ii) the previously recognized liability for certain failed sale leaseback transactions recognized as financings of $1,591 and (iii) the related tax effect of $29,060 . As a Lessee We have lease agreements covering many of our properties, as well as various equipment, with the most significant leases being our five leases with HPT, which are further described below. Certain of our leases include renewal options and purchase options. Renewal periods are included in calculating our operating lease assets and liabilities when they are reasonably certain. Leases with an initial term of 12 months or less are not recognized in our consolidated balance sheets. As of June 30, 2019 , all of our leases were classified as operating leases. Certain of our operating leases provide for variable lease costs, which primarily include percentage rent and our obligation for the estimated cost of removing underground storage tanks under the HPT Leases (as defined below). Our lease costs are included in various balances in our consolidated statements of operations and comprehensive income (loss), as shown in the following table. For the three and six months ended June 30, 2019 , our lease costs consisted of the following: Classification in our Consolidated Statements of Operations and Comprehensive Income (Loss) Three Months Ended Six Months Ended Operating lease costs: HPT Leases Real estate rent expense $ 59,424 $ 121,544 Operating lease costs: other Real estate rent expense 2,752 5,476 Variable lease costs: HPT Leases Real estate rent expense 1,465 2,886 Variable lease costs: other Real estate rent expense 129 277 Total real estate rent expense 63,770 130,183 Operating lease costs: equipment and other Site level operating expense and selling, general and administrative expense 647 1,217 Short-term lease costs Site level operating expense and selling, general and administrative expense 732 1,545 Sublease income Nonfuel revenues (591 ) (1,155 ) Net lease costs $ 64,558 $ 131,790 Maturities of our operating lease liabilities that had remaining noncancelable lease terms in excess of one year and the amount of those liabilities as of June 30, 2019 , were as follows: HPT Leases (1) Other Total Years ended December 31: 2019 $ 135,712 $ 3,493 $ 139,205 2020 271,331 6,073 277,404 2021 270,794 4,952 275,746 2022 268,931 3,922 272,853 2023 255,338 2,697 258,035 Thereafter 2,289,605 7,890 2,297,495 Total operating lease payments 3,491,711 29,027 3,520,738 Less: present value discount (2) (1,519,135 ) (5,473 ) (1,524,608 ) Present value of operating lease liabilities $ 1,972,576 $ 23,554 $ 1,996,130 (1) Includes rent for properties we sublease from HPT and pay directly to HPT's landlords. (2) The discount rate used to derive the present value of unpaid lease payments is based on the rates implicit in the leases, if available, or our incremental borrowing rate. The weighted average remaining lease term as of June 30, 2019 , was 14 years. Our weighted average discount rate as of June 30, 2019 , was 9.4% . During the six months ended June 30, 2019 , we paid $138,670 for amounts that had been included in the measurement of our operating lease liabilities. As of June 30, 2019 , our operating lease assets and liabilities consisted of the following: HPT Leases Other Total Operating lease assets $ 1,795,375 $ 22,326 $ 1,817,701 Current operating lease liabilities 91,638 5,660 97,298 Noncurrent operating lease liabilities 1,880,938 17,894 1,898,832 As previously disclosed in our Annual Report and under the previous lease accounting standard, future minimum lease payments required under leases that had remaining noncancelable lease terms in excess of one year as of December 31, 2018 , were as follows (included herein are the full payments then due under the HPT Leases, including the amount attributed to the lease of those sites that were accounted for as a financing as of December 31, 2018, in our consolidated balance sheet as reflected in the sale leaseback financing obligations): Total Years ended December 31: 2019 $ 302,855 2020 301,220 2021 299,393 2022 296,551 2023 295,534 Thereafter 1,980,078 Total $ 3,475,631 The amounts in the table above are as of December 31, 2018, and do not reflect the $43,148 annual minimum rent reduction resulting from the Transaction Agreements entered into in January 2019, as further described below. Leasing Agreements with HPT As of June 30, 2019 , we leased from HPT a total of 179 properties under five leases, four of which we refer to as the TA Leases and one of which we refer to as the Petro Lease, and which we refer to collectively as the HPT Leases. In January 2019, we entered into the Transaction Agreements, pursuant to which: • In January 2019, we purchased from HPT 20 travel center properties, which we previously leased from HPT, for a total purchase price of $309,637 , including $1,437 of transaction related costs. • As a result of our purchases of the 20 travel center properties, our annual minimum rent due to HPT was reduced by $43,148 . • The term of each HPT Lease was extended by three years. • Commencing on April 1, 2019 , we paid to HPT the first of 16 quarterly installments of approximately $4,404 each (an aggregate of $70,458 ) to fully satisfy and discharge our $150,000 deferred rent obligation to HPT that otherwise would have become due in five installments between 2024 and 2030. • Commencing with the year ending December 31, 2020 , we will be obligated to pay to HPT an additional amount of percentage rent equal to one-half percent ( 0.5% ) of the excess of our annual nonfuel revenues at leased sites over the nonfuel revenues for each respective site for the year ending December 31, 2019 . • Certain of the 179 travel center properties that we continue to lease from HPT were reallocated among the HPT Leases. As a result of the Transaction Agreements, our operating lease assets and liabilities each increased by $23,673 . In addition, the purchase of the 20 travel center properties resulted in the derecognition of certain lease assets and liabilities. See Note 3 for more information about these acquisitions. In addition to the payment of annual minimum rent, the TA Leases provide for payment to HPT of percentage rent, based on increases in total nonfuel revenues at a property over base year levels ( 3.0% of nonfuel revenues above 2015 nonfuel revenues) and the Petro Lease provides for payment to HPT of percentage rent based on increases in total nonfuel revenues at a property over base year levels at such property ( 3.0% of nonfuel revenues above 2012 nonfuel revenues). The percentage rent amounts due were $958 and $862 for the three months ended June 30, 2019 and 2018 , respectively, and $2,027 and $1,672 for the six months ended June 30, 2019 and 2018 , respectively. We recognized total rent expense under the HPT Leases of $60,889 and $68,068 for the three months ended June 30, 2019 and 2018 , respectively, and $124,430 and $135,706 for the six months ended June 30, 2019 and 2018 , respectively. During the six months ended June 30, 2018 , we sold to HPT $28,836 of improvements we made to properties leased from HPT; as a result, pursuant to the terms of the HPT Leases, our annual minimum rent payable to HPT increased by $2,451 . During the six months ended June 30, 2019, we did not sell to HPT any improvements we made to properties leased from HPT. At June 30, 2019 , our property and equipment balance included $26,095 of improvements of the type that we typically request that HPT purchase for an increase in annual minimum rent; however, we may elect not to sell some of those improvements and HPT is not obligated to purchase these improvements. Pursuant to a rent deferral agreement with HPT, deferred rent shall be accelerated and interest shall begin to accrue thereon at 1.0% per month on the deferred rent amounts if certain events occur, including: our default under the HPT Leases; a change of control of us, as defined in the deferral agreement; or our declaration or payment of a dividend or other distribution in respect of our common shares. The HPT Leases allow us to sublease a portion of the leased properties to a third party. We sublease a portion of certain travel centers to third parties to operate other retail operations, which are classified as operating leases. We recognized sublease rental income of $591 and $598 for the three months ended June 30, 2019 and 2018 , respectively, and $1,155 and $1,178 for the six months ended June 30, 2019 and 2018 , respectively. The following table summarizes the various amounts related to the HPT Leases that were included in our consolidated balance sheet as of December 31, 2018. December 31, Current HPT Leases liabilities: Accrued rent $ 24,721 Sale leaseback financing obligations (1) 1,032 Straight line rent accrual (2) 2,458 Deferred gain (3) 10,128 Deferred tenant improvements allowance (4) 3,770 Total current HPT Leases liabilities $ 42,109 Noncurrent HPT Leases liabilities: Deferred rent obligation (5) $ 150,000 Sale leaseback financing obligations (1) 22,365 Straight line rent accrual (2) 46,431 Deferred gain (3) 100,913 Deferred tenant improvements allowance (4) 34,047 Total noncurrent HPT Leases liabilities $ 353,756 (1) Sale Leaseback Financing Obligations. As of December 31, 2018, the assets related to two travel centers we leased from HPT were reflected in our consolidated balance sheet, as were the related financing obligations. This accounting was required primarily because, at the time of the inception of the prior leases with HPT, more than a minor portion of these two travel centers was subleased to third parties. Upon adoption of ASC 842 on January 1, 2019, these failed sale leasebacks were reclassified as operating leases, which resulted in a gain that was recognized in our beginning accumulated deficit. See above for more information about the impact of adopting ASC 842. (2) Straight Line Rent Accrual. As of December 31, 2018, the straight line rent accrual included the accrued rent expense from 2007 to 2012 for stated increases in our annual minimum rent due under our then existing TA Lease. The TA Leases we entered into in connection with a transaction agreement we entered into with HPT in 2015 contain no stated rent payment increases. Prior to the adoption of ASC 842, we amortized this accrual on a straight line basis over the current terms of the TA Leases as a reduction of real estate rent expense. The straight line rent accrual also included our obligation for the estimated cost of removing underground storage tanks at properties leased from HPT at the end of the related lease; we recognized these obligations on a straight line basis over the term of the related leases as additional real estate rent expense. As of January 1, 2019, the straight line rent accrual was reclassified as a reduction to our operating lease assets and the obligation for the estimated cost of removal of underground storage tanks was reclassified to other noncurrent liabilities. (3) Deferred Gain. The deferred gain primarily includes $145,462 of gains from the sales of travel centers and certain other assets to HPT during 2015 and 2016. Prior to the adoption of ASC 842, we amortized the deferred gains on a straight line basis over the terms of the related leases as a reduction of real estate rent expense. Upon adoption of ASC 842 on January 1, 2019, we recognized the unamortized deferred gain of $85,053 , net of taxes, in our beginning accumulated deficit. See above for more information about the impact of adopting ASC 842. (4) Deferred Tenant Improvements Allowance. HPT funded certain capital projects at the properties we lease under the HPT Leases without an increase in rent payable by us. In connection with HPT's initial capital commitment, we recognized a liability for rent deemed to be related to this capital commitment as a deferred tenant improvements allowance. Prior to the adoption of ASC 842, we amortized the deferred tenant improvements allowance on a straight line basis over the terms of the HPT Leases as a reduction of real estate rent expense. Upon the adoption of ASC 842 on January 1, 2019, the unamortized balance of the deferred tenant improvements allowance was reclassified as a reduction to our operating lease assets. (5) Deferred Rent Obligation . Pursuant to a rent deferral agreement with HPT, we previously deferred as of December 31, 2010, a total of $150,000 of rent payable to HPT, which remained outstanding as of December 31, 2018, and had been due in five installments between 2024 and 2030. Upon the adoption of ASC 842 on January 1, 2019, these future lease payments were included in our calculation of our operating lease assets and liabilities and the deferred rent obligation was reclassified as a reduction to our operating lease assets. In January 2019, as described above and pursuant to the terms of the Transaction Agreements, our deferred rent obligation was reduced to $70,458 , payable in 16 equal quarterly installments commencing on April 1, 2019, and our operating lease assets and liabilities were remeasured using these revised payment amounts. As a Lessor As of June 30, 2019 , we leased two travel centers to franchisees. These two lease agreements expire in June 2022. These leases include rent escalations that are contingent on future events, namely inflation or our investing in capital improvements at these travel centers. During the six months ended June 30, 2018 , we leased four travel centers to franchisees, one of which expired prior to June 30, 2018 , and one expired in the 2018 third quarter. Rent revenue from these operating leases totaled $599 and $815 for the three months ended June 30, 2019 and 2018 , respectively, and $1,150 and $1,812 for the six months ended June 30, 2019 and 2018 , respectively. Future minimum lease payments due to us for the two leased sites under these operating leases as of June 30, 2019 , was $1,125 for the remainder of 2019 , $2,250 for each of the years 2020 and 2021 and $1,125 for 2022 . |