Balance sheet information related to leases consisted of the following for the periods presented:


		As of
	Classification	June 30, 2025		December 31, 2024
Assets
Operating	Operating right of use assets, net	$	905,229	$	924,896
Finance	Property and equipment, net		11,809		12,344
Total lease assets		$	917,038	$	937,240

Liabilities
Current
Operating	Current maturities of operating lease liability	$	51,020	$	48,986
Finance	Current maturities of finance lease liability		834		804
Long-term
Operating	Operating lease liability		874,858		890,613
Finance	Financing lease liability		12,795		13,262
Total lease liabilities		$	939,507	$	953,665

Components of total lease cost, net, consisted of the following for the periods presented:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Operating lease expense(a)	$	30,783	$	27,659	$	61,487	$	54,871
Finance lease expense
Amortization of lease assets		243		251		487		502
Interest on lease liabilities		245		260		495		524
Short-term lease expense		22		52		39		103
Variable lease expense(b)		3,015		2,756		10,909		10,020
Total lease expense	$	34,308	$	30,978	$	73,417	$	66,020

Operating lease expense includes an immaterial amount of sublease income and is included in other store operating expenses and general and administrative expenses in the accompanying consolidated statements of operations and comprehensive income.

Variable lease costs consist of property taxes, property insurance, and common area or other maintenance costs for our leases of land and buildings and is included in other store operating expenses in the accompanying consolidated statements of operations and comprehensive income.

The following includes supplemental information for the periods presented:


	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Operating cash flows from operating leases	$	29,909		$	26,843		$	59,429		$	53,360
Operating cash flows from finance leases	$	245		$	260		$	495		$	524
Financing cash flows from finance leases	$	194		$	182		$	387		$	362

Operating lease ROU assets obtained in exchange for lease liabilities	$	335		$	20,237		$	7,595		$	34,947

Weighted-average remaining operating lease term		13.59			13.67			13.59			13.67
Weighted-average remaining finance lease term		14.46			15.19			14.46			15.19

Weighted-average operating lease discount rate		8.13	%		8.09	%		8.13	%		8.09	%
Weighted-average finance lease discount rate		7.34	%		7.33	%		7.34	%		7.33	%

As of June 30, 2025, lease obligation maturities were as follows:


Fiscal Year Ending:	Operating Leases			Finance Leases
2025 (remaining six months)	$	60,236		$	887
2026		120,250			1,792
2027		116,681			1,819
2028		110,411			1,846
2029		109,812			1,575
Thereafter		1,061,661			16,850
Total future minimum obligations	$	1,579,051		$	24,769
Present value discount		(653,173	)		(11,140	)
Present value of net future minimum lease obligations	$	925,878		$	13,629
Current portion		(51,020	)		(834	)
Long-term obligations	$	874,858		$	12,795

Forward-Starting Leases

As of June 30, 2025, we entered into 11 leases that had not yet commenced related to build-to-suit arrangements for car wash locations. These leases will commence in years 2025 through 2027 with initial lease terms of 15 to 20 years.

As of December 31, 2024, we entered into 10 leases that had not yet commenced related to build-to-suit arrangements for car wash locations. These leases will commence in years 2025 through 2027 with initial lease terms of 15 to 20 years.

Sale-Leaseback Transactions

During the three and six months ended June 30, 2025, we did not complete any sale-leaseback transactions.

During the three and six months ended June 30, 2024, we completed three and four sale-leaseback transactions related to car wash locations, respectively, with aggregate consideration of $13,845 and $18,745, respectively, resulting in net losses of $2,658 and $961, respectively, which are included in (gain) loss on sale of assets in the accompanying consolidated statements of operations and comprehensive income. Contemporaneously with the closing of the sales, we entered into lease agreements for the properties for initial 20-year terms. For the sale-leaseback transactions consummated in the three and six months ended June 30, 2024, the cumulative initial annual rent for the property was approximately $881 and $1,187, respectively, subject to annual escalations. These leases are accounted for as operating leases.