v3.26.1
Leases (Tables)
6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Future Minimum Lease Payments under Operating Leases

Future minimum lease payments under operating leases that have initial noncancelable lease terms in excess of one year were as follows (in thousands):

 

 

 

June 30,
2026

 

 

December 31,
2025

 

2026

 

$

24,687

 

 

$

54,278

 

2027

 

 

41,159

 

 

 

44,246

 

2028

 

 

31,821

 

 

 

33,245

 

2029

 

 

19,590

 

 

 

18,855

 

2030

 

 

15,281

 

 

 

14,522

 

Thereafter

 

 

99,908

 

 

 

97,566

 

Total lease payments

 

 

232,446

 

 

 

262,712

 

Less: imputed interest

 

 

(42,767

)

 

 

(47,092

)

Operating lease liabilities

 

$

189,679

 

 

$

215,620

 

Lease Cost

The following table summarizes lease costs (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Operating lease cost

 

$

12,673

 

 

$

11,958

 

 

$

25,914

 

 

$

23,943

 

Variable lease cost

 

 

512

 

 

 

(309

)

 

 

(139

)

 

 

(324

)

Short-term lease cost

 

 

10,393

 

 

 

11,013

 

 

 

18,946

 

 

 

21,688

 

Sublease income

 

 

(1,244

)

 

 

(1,011

)

 

 

(2,149

)

 

 

(1,871

)

 

$

22,334

 

 

$

21,651

 

 

$

42,572

 

 

$

43,436

 

 

Operating Leases Weighted Average Discount Rate and Remaining Lease Term

The following table summarizes other supplemental information about the Company’s operating leases:

 

 

 

June 30,
2026

 

 

December 31,
2025

 

Weighted average discount rate

 

 

4.7

%

 

 

4.7

%

Weighted average remaining lease term

 

9 years

 

 

8 years