Leases (Tables)

6 Months Ended

Jun. 30, 2026

Lease assets and liabilities are summarized as follows:


(in thousands)	Financial Statement Location	June 30, 2026		December 31, 2025
Operating leases
Operating lease right-of-use assets	Operating lease right-of-use assets	$	206,388	$	213,707
Operating lease liabilities	Operating lease liabilities	253,198		261,169

Finance leases
Property and equipment, at cost	Property, equipment, and capitalized software, net	47,802		36,611
Accumulated depreciation	Property, equipment, and capitalized software, net	(21,847)		(17,703)
Finance lease liabilities	Accounts payable, accrued expenses, and other liabilities	27,045		19,984

Weighted average remaining lease term and discount rate are as follows:


	June 30, 2026		December 31, 2025
Weighted average remaining lease term
Operating leases	4.45 years		4.40 years
Finance leases	2.56 years		2.58 years
Weighted average discount rate
Operating leases	5.93	%	5.95	%
Finance leases	5.31	%	5.83	%

The components of lease expense are as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2026		2025		2026		2025
Operating lease cost:
Fixed	$	19,466	$	17,700	$	37,994	$	35,231
Variable	2,387		1,594		4,769		3,050
Impairment of ROU Asset	832		—		832		—
Total Operating lease cost	$	22,685	$	19,294	$	43,595	$	38,281

Sublease income	2,742		3,172		5,988		6,642

Finance lease cost:
Amortization of ROU Asset	$	2,757	$	1,805	$	4,788	$	3,962
Interest on lease liabilities	352		307		633		641
Total Finance lease cost	$	3,109	$	2,112	$	5,421	$	4,603

Future minimum lease payments under operating and finance leases with non-cancelable lease terms, as of June 30, 2026, are as follows:

Future minimum lease payments under operating and finance leases with non-cancelable lease terms, as of June 30, 2026, are as follows: