v3.25.2
Leases (Tables)
6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Future Minimum Lease Payments under Operating Leases

Future minimum lease payments under operating leases that have initial noncancelable lease terms in excess of one year were as follows (in thousands):

 

 

 

June 30,
2025

 

 

December 31,
2024

 

2025

 

$

23,184

 

 

$

42,202

 

2026

 

 

41,987

 

 

 

38,115

 

2027

 

 

32,511

 

 

 

30,263

 

2028

 

 

24,561

 

 

 

22,860

 

2029

 

 

14,200

 

 

 

12,483

 

Thereafter

 

 

79,452

 

 

 

76,621

 

Total lease payments

 

 

215,895

 

 

 

222,544

 

Less: imputed interest

 

 

(35,805

)

 

 

(38,647

)

Operating lease liabilities

 

$

180,090

 

 

$

183,897

 

Lease Cost

The following table summarizes lease costs (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Operating lease cost

 

$

11,958

 

 

$

11,599

 

 

$

23,943

 

 

$

22,880

 

Variable lease cost

 

 

(309

)

 

 

578

 

 

 

(324

)

 

 

1,071

 

Short-term lease cost

 

 

11,013

 

 

 

8,809

 

 

 

21,688

 

 

 

18,988

 

Sublease income

 

 

(1,011

)

 

 

(830

)

 

 

(1,871

)

 

 

(1,684

)

 

$

21,651

 

 

$

20,156

 

 

$

43,436

 

 

$

41,255

 

Operating Leases Weighted Average Discount Rate and Remaining Lease Term

The following table summarizes other supplemental information about the Company’s operating leases:

 

 

 

June 30,
2025

 

 

December 31,
2024

 

Weighted average discount rate

 

 

4.6

%

 

 

4.6

%

Weighted average remaining lease term

 

8 years

 

 

8 years