LEASES (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| LEASES |
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| Summary of components of lease expense |
The components of lease expense were as follows (in thousands): | | | | | | | Three Months Ended | | March 31, 2026 | | March 31, 2025 | Operating lease cost: | | | | | | Operating lease cost | $ | 6,074 | | $ | 5,906 | Short-term lease cost | | 1,661 | | | 1,332 | Variable lease cost | | 1,603 | | | 1,955 | Total operating lease cost | $ | 9,338 | | $ | 9,193 | | | | | | | Finance lease cost: | | | | | | Amortization of right-of-use asset | $ | 575 | | $ | 1,879 | Variable costs | | 108 | | | 287 | Interest costs | | 80 | | | 88 | Total finance lease cost | $ | 763 | | $ | 2,254 |
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| Summary of weighted-average remaining lease term and discount rate |
| | | | | | | March 31, 2026 | | December 31, 2025 | Weighted-average remaining lease term | | | | | | Operating leases | | 11.7 years | | | 11.8 years | Financing leases | | 5.5 years | | | 5.6 years | | | | | | | Weighted-average discount rate | | | | | | Operating leases | | 7.3% | | | 7.8% | Financing leases | | 8.8% | | | 8.7% |
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| Summary of maturities of operating lease liabilities |
Maturities of lease liabilities as of March 31, 2026 were as follows (in thousands): | | | | | | | Operating Leases | | Financing Leases | 2026 (excluding the three months ended March 31, 2026) | | 14,459 | | | 775 | 2027 | | 16,657 | | | 1,006 | 2028 | | 12,510 | | | 737 | 2029 | | 9,027 | | | 537 | 2030 | | 7,579 | | | 527 | Thereafter | | 73,714 | | | 1,130 | Total lease payments | | 133,946 | | | 4,712 | Less imputed interest | | (52,574) | | | (1,054) | Total | $ | 81,372 | | $ | 3,658 |
Maturities of lease liabilities as of December 31, 2025 were as follows (in thousands): | | | | | | | Operating Leases | | Financing Leases | 2026 | $ | 18,712 | | $ | 668 | 2027 | | 17,143 | | | 996 | 2028 | | 13,051 | | | 727 | 2029 | | 9,395 | | | 527 | 2030 | | 7,133 | | | 516 | Thereafter | | 72,553 | | | 1,548 | Total lease payments | | 137,987 | | | 4,982 | Less imputed interest | | (52,667) | | | (1,134) | Total | $ | 85,320 | | $ | 3,848 |
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| Summary of maturities of finance lease liabilities |
Maturities of lease liabilities as of March 31, 2026 were as follows (in thousands): | | | | | | | Operating Leases | | Financing Leases | 2026 (excluding the three months ended March 31, 2026) | | 14,459 | | | 775 | 2027 | | 16,657 | | | 1,006 | 2028 | | 12,510 | | | 737 | 2029 | | 9,027 | | | 537 | 2030 | | 7,579 | | | 527 | Thereafter | | 73,714 | | | 1,130 | Total lease payments | | 133,946 | | | 4,712 | Less imputed interest | | (52,574) | | | (1,054) | Total | $ | 81,372 | | $ | 3,658 |
Maturities of lease liabilities as of December 31, 2025 were as follows (in thousands): | | | | | | | Operating Leases | | Financing Leases | 2026 | $ | 18,712 | | $ | 668 | 2027 | | 17,143 | | | 996 | 2028 | | 13,051 | | | 727 | 2029 | | 9,395 | | | 527 | 2030 | | 7,133 | | | 516 | Thereafter | | 72,553 | | | 1,548 | Total lease payments | | 137,987 | | | 4,982 | Less imputed interest | | (52,667) | | | (1,134) | Total | $ | 85,320 | | $ | 3,848 |
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| Schedule of maturities of future undiscounted lease payments |
The following table presents the maturities of future undiscounted lease payments for the periods indicated (in thousands): | | | 2026 (excluding the three months ended March 31, 2026) | $ | 6,486 | 2027 | | 7,244 | 2028 | | 6,532 | 2029 | | 4,863 | 2030 | | 2,808 | Thereafter | | 6,594 | Total future lease payments | $ | 34,527 |
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