v3.25.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Operating Lease, Right-of-Use Asset
Our total operating lease right-of-use assets were as follows:
(in thousands)March 31, 2025December 31, 2024
Operating lease right-of-use assets - cost$193,437 $182,130 
Operating lease right-of-use assets - accumulated amortization(63,850)(49,836)
Operating lease right-of-use assets - net$129,587 $132,294 
Finance Lease, Right-of-Use Asset
Our total finance lease right-of-use assets were as follows:
(in thousands)March 31, 2025December 31, 2024
Finance lease right-of-use assets - cost$54,842 $54,842 
Finance lease right-of-use assets - accumulated amortization(28,979)(24,129)
Finance lease right-of-use assets - net$25,863 $30,713 
Lease, Cost
The components of lease costs are as follows:
Three Months Ended March 31,
(in thousands)20252024
Operating lease cost$15,731 $9,036 
Finance lease cost:
Amortization of right-of-use assets4,849 4,526 
Interest on lease liabilities524 814 
Total finance lease cost5,373 5,340 
Variable lease cost904 627 
Short-term lease cost237 199 
Supplemental cash flow information related to leases are as follows:
Three Months Ended March 31,
(in thousands)20252024
Cash paid for amounts included in the measurements of lease liabilities:
Operating cash flows from operating leases$11,567 $6,287 
Operating cash flows from finance lease524 814 
Financing cash flows from finance lease4,705 4,154 
Noncash lease obligations arising from obtaining right-of-use assets related to:
Operating leases (1)
11,307 32,402 
Finance lease— — 
(1)During the three months ended March 31, 2025 and 2024, we recorded noncash operating lease obligations arising from obtaining right-of-use assets related to the receipt of equipment under the Electric Fleet Leases.
Schedule Of Lease Terms And Discount Rates
Lease terms and discount rates are as follows:
March 31, 2025December 31, 2024
Weighted average remaining lease term:
Operating leases2.3 years2.4 years
Finance leases1.4 years1.6 years
Weighted average discount rate:
Operating leases6.8 %7.0 %
Finance leases7.3 %7.3 %
Operating Lease Maturity
The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our leases as of March 31, 2025 are as follows:
(in thousands)Operating LeasesFinance Leases
2025$36,028 $15,687 
202647,309 13,462 
202721,431 — 
20282,936 — 
2029— — 
Total undiscounted future lease payments107,704 29,149 
Less: amount representing interest(8,335)(1,351)
Present value of future lease payments (lease obligation)$99,369 $27,798 
Finance Lease Maturity
The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our leases as of March 31, 2025 are as follows:
(in thousands)Operating LeasesFinance Leases
2025$36,028 $15,687 
202647,309 13,462 
202721,431 — 
20282,936 — 
2029— — 
Total undiscounted future lease payments107,704 29,149 
Less: amount representing interest(8,335)(1,351)
Present value of future lease payments (lease obligation)$99,369 $27,798