v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases Leases
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 June 30, 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.
The following table presents components of lease expense for the three and six months ended June 30, 2026 and 2025:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2026202520262025
Operating lease expense$4,779 $3,561 $9,397 $6,721 
Short-term lease expense(a)
16,267 14,577 30,639 28,062 
21,046 18,138 40,036 34,783 
Less: Sublease income199 297 404 591 
Total lease expense$20,847 $17,841 $39,632 $34,192 
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(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.
The following table presents supplemental balance sheet information related to operating leases:
(dollars in thousands)Balance Sheet Line ItemAs of June 30,
2026		As of December 31,
2025
Assets
Right-of-use assetsOther assets$63,182 $58,608 
Total lease assets$63,182 $58,608 
Liabilities
Current lease liabilitiesAccrued expenses and other current liabilities$13,176 $11,763 
Long-term lease liabilitiesOther long-term liabilities55,335 51,783 
Total lease liabilities$68,511 $63,546 
Weighted-average remaining lease term6.0 years6.4 years
Weighted-average discount rate8.73 %8.04 %
The following table presents supplemental cash flow information and non-cash activity related to operating leases:
Six Months Ended
June 30,
(in thousands)20262025
Operating cash flow information:
Cash paid for amounts included in the measurement of lease liabilities$(9,009)$(6,218)
Non-cash activity:
Right-of-use assets obtained in exchange for lease liabilities$11,146 $18,295 
The following table presents maturities of operating lease liabilities on an undiscounted basis as of June 30, 2026:
Year (in thousands)
Operating Leases
2026 (excluding the six months ended June 30, 2026)
$9,299 
202717,788 
202815,833 
202913,315 
20309,323 
Thereafter24,154 
Total lease payments89,712 
Less: Imputed interest21,201 
Total$68,511