The company has signed, but the asset has not been made available for its use, so no lease liability or asset has been recorded yet. Under ASC 842, a company must disclose leases that have not yet commenced but that create significant rights and obligations.
These disclosures are a useful early warning. They show future fixed payments that are already agreed but not yet on the balance sheet. When the lease starts, the liability appears and leverage figures rise.
Leases of this kind are common where something has to be built first, such as a data center, an office tower or a store. The commencement date may be after construction is finished and the space is handed over.
Look for the disclosure in the lease note, read the amounts and expected start dates and add them in your own estimate of future leverage.