v3.26.1
Finance Leases and Equipment Financing Obligations (Tables)
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Components of Lease Expense
The components of operating lease expense were as follows:
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Operating lease expense$40,317 $29,851 $74,016 $56,331 
Variable lease expense4,247 2,329 8,348 4,761 
Short-term lease expense— 119 20 185 
Total operating lease expense
$44,564 $32,299 $82,384 $61,277 
The components of finance lease and equipment financing obligations expense were as follows:
Three Months EndedSix Months Ended
June 30,June 30,
2026202520262025
Finance leases:
Amortization of finance lease right-of-use assets$7,476 $1,325 $11,938 $2,612 
Interest expense on finance lease liabilities3,536 53 4,796 124 
Equipment financing obligations:
Depreciation of assets under equipment financing obligations6,712 — 12,347 — 
Interest expense on equipment financing obligations2,258 — 4,323 — 
Total finance lease and equipment financing obligations expense$19,982 $1,378 $33,404 $2,736 
Supplemental Balance Sheet Information
Weighted-average remaining lease term and discount rate were as follows:
June 30, 2026December 31, 2025
Weighted-average remaining lease term (in years)5.83.4
Weighted-average discount rate6%6%
Weighted-average remaining term and discount rate of finance lease liabilities and equipment financing obligations were as follows:
June 30, 2026December 31, 2025
Finance Leases
Weighted-average remaining term (in years)
5.90.9
Weighted-average discount rate6%7%
Equipment Financing Obligations
Weighted-average remaining term (in years)3.93.9
Weighted-average discount rate7%7%
Finance Lease Maturity
Maturities of finance lease liabilities and equipment financing obligations of June 30, 2026 were as follows:
Finance LeasesEquipment Financing ObligationsTotal
2027$111,639 $24,778 $136,417 
2028107,530 50,329 157,859 
2029107,203 50,329 157,532 
203099,616 46,495 146,111 
203135,545 12,744 48,289 
Thereafter1,552 6,523 8,075 
Total undiscounted finance lease liabilities and equipment financing obligations
$463,085 $191,198 $654,283 
Less: Imputed interest(53,251)(23,312)(76,563)
Total present value of finance lease liabilities and equipment financing obligations
$409,834 $167,886 $577,720 
Less: Finance lease liabilities and equipment financing obligations, current
(89,836)(39,941)(129,777)
Finance lease liabilities and equipment financing obligations, long-term
$319,998 $127,945 $447,943