v3.25.4
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Lease, Cost
The components of lease expense were as follows (in thousands):
Year Ended December 31,
202520242023
Operating lease expense$178,697 $174,174 $139,482 
Variable and short-term lease expense67,637 53,627 31,655 
Net operating lease expense$246,334 $227,801 $171,137 
Schedule of Non-cancelable Operating Leases
For leases which have commenced, the following table presents the expected timing of future lease payments as of December 31, 2025 (in thousands):
Year ending December 31,
2026$171,440 
2027159,647 
2028137,753 
2029123,009 
203099,002 
Thereafter299,590 
Total lease payments$990,441 
Less: imputed interest (1)
(195,535)
Present value of lease liabilities$794,906 
(1)Calculated using each lease’s incremental borrowing rate.
Schedule of Supplemental Information
The following table presents the weighted average remaining lease terms and discount rates as of December 31, 2025, and December 31, 2024:
As of December 31,
20252024
Weighted average remaining lease term (years)6.77.5
Weighted average discount rate6.2 %6.3 %
Supplemental cash and noncash information related to operating leases is as follows (in thousands):
Year ended December 31,
202520242023
Cash paid for amounts included in the measurement of lease liabilities, net of leasehold incentives received
$172,734 $158,381 $105,337 
Lease liabilities arising from obtaining new right-of-use assets (noncash)$105,786 $120,822 $256,500 
Schedule of Sublease Income
Sublease income was as follows (in thousands):
Year ended December 31,
202520242023
Sublease income
$10,317 $8,405 $3,337 
Schedule of Future Sublease Payments Due
The following table presents future sublease payments due to the Company as of December 31, 2025 (in thousands):
Year ending December 31,
2026
$12,520 
2027
7,094 
2028525 
Thereafter— 
Total sublease income
$20,139