v3.25.4
Commitments and Contingencies
12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

12. Commitments and Contingencies

Contractual Obligations

The Company leases its office facilities under non-cancelable operating leases that expire at various dates through February 2035. Certain leases contain optional termination dates. The table below only includes payments up to the optional termination date. If the Company were to extend leases beyond the optional termination date, the future commitments would increase by approximately $91.8 million.

Future minimum payments under all operating lease agreements as of December 31, 2025, are as follows:
 

 

 

(in thousands)

 

2026

 

$

56,535

 

2027

 

 

50,257

 

2028

 

 

37,455

 

2029

 

 

37,188

 

2030

 

 

36,117

 

Thereafter

 

 

95,832

 

Total

 

$

313,384

 

The Company has entered into certain non-cancelable vendor commitments, which require the future purchase of goods or services. Future minimum payments under all vendor commitments as of December 31, 2025 are as follows:
 

 

 

(in thousands)

 

2026

 

$

286,458

 

2027

 

 

202,784

 

2028

 

 

4,463

 

2029

 

 

1,025

 

2030

 

 

 

Thereafter

 

 

 

Total

 

$

494,730

 

Legal Contingencies

From time to time the Company may become involved in legal proceedings or be subject to claims arising in the ordinary course of its business. Although the results of litigation and claims cannot be predicted with certainty, the Company currently believes that the final outcome of these ordinary course matters will not have a material adverse effect on its business, operating results, financial condition or cash flows. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs, diversion of management resources and other factors.