Leases (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Leases [Abstract] |
|
| Summary of Lease Costs |
The components of lease costs for the years ended December 31, 2025 and December 31, 2024 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
Operating lease cost |
|
$ |
65,571 |
|
|
$ |
64,858 |
|
Short-term lease cost |
|
|
16,398 |
|
|
|
17,114 |
|
Amortization of right-of-use assets |
|
|
4,507 |
|
|
|
3,549 |
|
Interest on lease liabilities |
|
|
524 |
|
|
|
434 |
|
Sublease income |
|
|
(3,730 |
) |
|
|
(4,289 |
) |
Total lease cost |
|
$ |
83,270 |
|
|
$ |
81,666 |
|
|
| Schedule of Supplemental Cash Flow Information Related to Leases |
Supplemental cash flow information related to leases for the years ended December 31, 2025 and December 31, 2024 is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
Operating cash flows for operating leases |
|
$ |
66,841 |
|
|
$ |
67,696 |
|
Operating cash flows for financing activities |
|
|
524 |
|
|
|
434 |
|
Financing cash flows for finance leases |
|
|
4,383 |
|
|
|
3,376 |
|
Right-of-use assets obtained in exchange for new
operating lease liabilities |
|
|
26,574 |
|
|
|
36,583 |
|
Right-of-use assets obtained in exchange for new
finance lease liabilities |
|
|
2,606 |
|
|
|
4,220 |
|
|
| Schedule of Supplemental Balance Sheet and Other Information Related to Leases |
Supplemental balance sheet and other information related to leases as of December 31, 2025 and December 31, 2024 is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
Operating Leases: |
|
|
|
|
|
|
Right-of-use assets |
|
$ |
126,770 |
|
|
$ |
153,048 |
|
Lease liabilities: |
|
|
|
|
|
|
Current |
|
|
45,353 |
|
|
|
52,725 |
|
Long-term |
|
|
94,044 |
|
|
|
114,386 |
|
Total operating lease liabilities |
|
$ |
139,397 |
|
|
$ |
167,111 |
|
Finance Leases: |
|
|
|
|
|
|
Other noncurrent assets |
|
$ |
8,990 |
|
|
$ |
9,864 |
|
Accrued expenses and other current liabilities |
|
$ |
4,118 |
|
|
$ |
3,645 |
|
Other long-term liabilities |
|
$ |
5,240 |
|
|
$ |
6,441 |
|
|
|
|
|
|
|
|
Weighted Average Remaining Lease Term: |
|
|
|
|
|
|
Operating leases |
|
3.7 Years |
|
|
3.9 Years |
|
Finance leases |
|
2.6 Years |
|
|
2.8 Years |
|
Weighted Average Discount Rate: |
|
|
|
|
|
|
Operating leases |
|
|
4.6 |
% |
|
|
4.5 |
% |
Finance leases |
|
|
4.9 |
% |
|
|
5.0 |
% |
|
| Schedule of Maturity Analysis of Future Undiscounted Cash Flows |
A maturity analysis of the future undiscounted cash flows associated with the Company’s operating and finance lease liabilities as of December 31, 2025 is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
Operating Leases |
|
|
Finance Leases |
|
2026 |
|
$ |
50,952 |
|
|
$ |
4,546 |
|
2027 |
|
|
35,670 |
|
|
|
3,293 |
|
2028 |
|
|
29,467 |
|
|
|
1,950 |
|
2029 |
|
|
21,893 |
|
|
|
504 |
|
2030 |
|
|
8,540 |
|
|
|
58 |
|
Thereafter |
|
|
5,147 |
|
|
|
- |
|
Total lease payments |
|
|
151,669 |
|
|
|
10,351 |
|
Less: imputed interest |
|
|
(12,272 |
) |
|
|
(993 |
) |
Total present value of lease liabilities |
|
$ |
139,397 |
|
|
$ |
9,358 |
|
|