The Company leases certain office space, construction and office equipment, vehicles and temporary housing generally under non-cancelable operating leases. Leases with an initial term of one year or less are not recorded on the balance sheet, and the Company generally recognizes lease expense for these leases on a straight-line basis over the lease term. As of March 31, 2026, the Company’s operating leases have remaining lease terms ranging from less than one year to 12 years, some of which include options to renew the leases. The exercise of lease renewal options is generally at the Company’s sole discretion. The Company’s leases do not contain any material residual value guarantees or material restrictive covenants.


	Three Months Ended March 31,
(in thousands)	2026		2025
Operating lease expense	$	4,618	$	3,160
Short-term lease expense(a)	14,372		13,485
	18,990		16,645
Less: Sublease income	205		294
Total lease expense	$	18,785	$	16,351

(a)Short-term lease expense includes all leases with lease terms of up to one year. Short-term leases include, among other things, construction equipment rented on an as-needed basis as well as temporary housing.


(dollars in thousands)	Balance Sheet Line Item	As of March 31, 2026			As of December 31, 2025
Assets
Right-of-use assets	Other assets	$	62,014		$	58,608
Total lease assets		$	62,014		$	58,608
Liabilities
Current lease liabilities	Accrued expenses and other current liabilities	$	12,256		$	11,763
Long-term lease liabilities	Other long-term liabilities	54,866			51,783
Total lease liabilities		$	67,122		$	63,546
Weighted-average remaining lease term		6.2 years			6.4 years
Weighted-average discount rate		8.51		%	8.04		%


	Three Months Ended March 31,
(in thousands)	2026		2025
Operating cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	(4,447)	$	(2,912)
Non-cash activity:
Right-of-use assets obtained in exchange for lease liabilities	$	6,740	$	4,581


Year (in thousands)	Operating Leases
2026 (excluding the three months ended March 31, 2026)	$	13,014
2027	16,321
2028	14,752
2029	12,286
2030	8,309
Thereafter	23,702
Total lease payments	88,384
Less: Imputed interest	21,262
Total	$	67,122