v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases
10. Leases

The Company has entered into operating leases for land, office space, and certain Company vehicles and equipment and has entered into finance leases for certain Company vehicles and equipment. The leases will expire between 2026 and 2045. Right-of-use lease assets and lease liabilities consisted of the following (in millions):

Balance Sheet LocationJune 30,
2026		December 31, 2025
Right-of-use assets:
Operating lease
Other assets (non-current)$64.0 $35.4 
Finance lease
Property, plant and equipment, net0.1 0.1 
Total right-of-use assets$64.1 $35.5 
Lease liabilities:
Current portion of operating lease
Other current liabilities$10.5 $8.7 
Non-current portion of operating lease
Other liabilities55.8 28.3 
Finance lease
Debt obligations
0.1 0.1 
Total lease liabilities$66.4 $37.1 

The following table summarizes the components of lease expense (in millions):

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Finance lease cost:
Amortization of right-of-use assets$0.1 $0.1 $0.1 $0.2 
Net finance lease cost0.1 0.1 0.1 0.2 
Operating lease cost5.4 4.6 9.7 8.8 
Variable lease cost0.1 0.1 0.3 0.3 
Total non-current lease cost
$5.6 $4.8 10.1 9.3 
Short-term lease costs8.6 7.5 14.6 15.5 
Total lease cost
$14.2 $12.3 $24.7 $24.8 
Cash flow information related to leases is as follows (in millions):

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases (1)
$4.1 $4.7 $9.4 $9.9 
Financing cash flows for finance leases
$0.1 $0.1 $0.1 $0.2 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases$4.3 $2.6 $38.9 $5.1 
Finance leases$— $0.1 $— $0.1 
(1) The above amounts exclude $4.0 million received during the three and six months ended June 30, 2025.

On May 1, 2024, a subsidiary of DBMG amended the termination date of three property leases that had an original expiry date of March 31, 2031. In exchange, and as an inducement for DBMG to early terminate, the landlord agreed to pay DBMG $12.0 million in surrender fees in three equal installments, contingent on timely vacate and inspection milestones, of which DBMG received $4.0 million in surrender fees in 2024 and $4.0 million in surrender fees in 2025, with the remaining $4.0 million payment due to DBMG due within five business days of the vacate date in 2027 for the remaining property lease. After final surrender of the properties, DBMG will have no further obligations under these leases.

The weighted-average remaining lease terms and the weighted-average discount rates for the Company's leases were as follows:

June 30,
2026		December 31, 2025
Weighted-average remaining lease term (years) - operating leases8.37.0
Weighted-average remaining lease term (years) - finance leases2.22.1
Weighted-average discount rate - operating leases5.8 %5.3 %
Weighted-average discount rate - finance leases5.2 %5.0 %

Future minimum lease commitments (undiscounted) as of June 30, 2026, were as follows (in millions):

Operating
Leases		Finance
Leases
2026 (remaining period)$5.9 $0.1 
202713.9 — 
202811.1 — 
20298.4 — 
20307.2 — 
Thereafter37.8 — 
Total future minimum lease payments84.3 0.1 
Less: amounts representing interest(18.0)— 
Total lease liability
$66.3 $0.1 
Leases
10. Leases

The Company has entered into operating leases for land, office space, and certain Company vehicles and equipment and has entered into finance leases for certain Company vehicles and equipment. The leases will expire between 2026 and 2045. Right-of-use lease assets and lease liabilities consisted of the following (in millions):

Balance Sheet LocationJune 30,
2026		December 31, 2025
Right-of-use assets:
Operating lease
Other assets (non-current)$64.0 $35.4 
Finance lease
Property, plant and equipment, net0.1 0.1 
Total right-of-use assets$64.1 $35.5 
Lease liabilities:
Current portion of operating lease
Other current liabilities$10.5 $8.7 
Non-current portion of operating lease
Other liabilities55.8 28.3 
Finance lease
Debt obligations
0.1 0.1 
Total lease liabilities$66.4 $37.1 

The following table summarizes the components of lease expense (in millions):

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Finance lease cost:
Amortization of right-of-use assets$0.1 $0.1 $0.1 $0.2 
Net finance lease cost0.1 0.1 0.1 0.2 
Operating lease cost5.4 4.6 9.7 8.8 
Variable lease cost0.1 0.1 0.3 0.3 
Total non-current lease cost
$5.6 $4.8 10.1 9.3 
Short-term lease costs8.6 7.5 14.6 15.5 
Total lease cost
$14.2 $12.3 $24.7 $24.8 
Cash flow information related to leases is as follows (in millions):

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases (1)
$4.1 $4.7 $9.4 $9.9 
Financing cash flows for finance leases
$0.1 $0.1 $0.1 $0.2 
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases$4.3 $2.6 $38.9 $5.1 
Finance leases$— $0.1 $— $0.1 
(1) The above amounts exclude $4.0 million received during the three and six months ended June 30, 2025.

On May 1, 2024, a subsidiary of DBMG amended the termination date of three property leases that had an original expiry date of March 31, 2031. In exchange, and as an inducement for DBMG to early terminate, the landlord agreed to pay DBMG $12.0 million in surrender fees in three equal installments, contingent on timely vacate and inspection milestones, of which DBMG received $4.0 million in surrender fees in 2024 and $4.0 million in surrender fees in 2025, with the remaining $4.0 million payment due to DBMG due within five business days of the vacate date in 2027 for the remaining property lease. After final surrender of the properties, DBMG will have no further obligations under these leases.

The weighted-average remaining lease terms and the weighted-average discount rates for the Company's leases were as follows:

June 30,
2026		December 31, 2025
Weighted-average remaining lease term (years) - operating leases8.37.0
Weighted-average remaining lease term (years) - finance leases2.22.1
Weighted-average discount rate - operating leases5.8 %5.3 %
Weighted-average discount rate - finance leases5.2 %5.0 %

Future minimum lease commitments (undiscounted) as of June 30, 2026, were as follows (in millions):

Operating
Leases		Finance
Leases
2026 (remaining period)$5.9 $0.1 
202713.9 — 
202811.1 — 
20298.4 — 
20307.2 — 
Thereafter37.8 — 
Total future minimum lease payments84.3 0.1 
Less: amounts representing interest(18.0)— 
Total lease liability
$66.3 $0.1