v3.26.1
Leases
6 Months Ended
Jun. 30, 2026
Leases  
Leases

Note 12. Leases

The Company has operating and finance leases for corporate offices and certain equipment. These leases have remaining lease terms of less than one year to approximately thirteen years, some of which include options to extend the leases for multiple renewal periods of two to ten years each. Under the terms of the facilities leases, the Company is required to pay its proportionate share of property taxes, insurance and normal maintenance costs.

The components of lease cost were as follows (in thousands):

Six Months Ended

June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

Operating lease cost

$

3,807

$

4,125

Finance lease cost:

Amortization of right-of-use assets

225

201

Interest on finance lease liabilities

44

52

269

253

Total lease cost

$

4,076

$

4,378

Other information related to leases was as follows (in thousands):

Supplemental Cash Flows Information

Six Months Ended June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

Operating cash flows from operating leases

 

$

3,806

 

$

3,037

 

Operating cash flows from finance leases

 

$

267

 

$

239

 

Financing cash flows from finance leases

$

223

$

187

Right-of-use assets obtained in exchange for lease liabilities:

Operating leases

 

$

3,199

 

$

400

 

Finance leases

$

254

$

378

June 30, 

December 31, 

 

  ​ ​ ​

2026

  ​ ​ ​

2025

 

  ​ ​ ​

Weighted-Average Remaining Lease Term

 

 

 

Operating leases

 

8.7

years

9.0

years

 

Finance leases

 

2.9

years

3.1

years

 

Weighted-Average Discount Rate

 

  ​

 

  ​

 

Operating leases

 

7.1

%  

7.1

%

 

Finance leases

 

7.6

%  

8.4

%

 

Future minimum lease payments under non-cancellable leases that have commenced as of June 30, 2026 were as follows (in thousands):

Operating

Finance

Years Ending December 31

  ​ ​ ​

Leases

  ​ ​ ​

Leases

2026 (excluding the six months ended June 30, 2026)

 

$

3,266

 

$

266

2027

 

7,327

 

477

2028

 

6,678

 

344

2029

 

5,840

 

154

2030

6,054

49

Thereafter

 

31,191

 

9

Total future minimum lease payments

 

60,356

 

1,299

Less: imputed interest

 

(16,343)

 

(125)

Total

$

44,013

$

1,174

Operating

Finance

Reported as of June 30, 2026

  ​ ​ ​

Leases

  ​ ​ ​

Leases

Current lease liabilities

$

3,937

$

448

Noncurrent lease liabilities

 

40,076

 

726

Total

$

44,013

$

1,174