v3.26.1
Leases (Tables)
6 Months Ended
Jun. 30, 2026
Leases  
Schedule of components of lease cost

The following table details the components of our lease cost (in thousands):

Three Months Ended

Six Months Ended

June 30, 

June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

Operating lease cost

$

22,525

$

23,022

$

45,136

 

$

43,925

Variable lease cost

 

1,219

 

2,685

 

1,695

 

5,030

Short-term lease cost

 

6,700

 

9,812

 

14,602

 

17,234

Sublease income

 

(30)

 

(29)

 

(60)

 

(58)

Net lease cost

$

30,414

$

35,490

$

61,373

 

$

66,131

Schedule of maturities of operating lease liabilities

Maturities of our operating lease liabilities as of June 30, 2026 are as follows (in thousands):

  ​ ​ ​

  ​ ​ ​

Facilities and

  ​ ​ ​

  ​ ​ ​

Vessels

  ​ ​ ​

Equipment

  ​ ​ ​

Total

Less than one year

$

80,825

$

3,512

 

$

84,337

One to two years

 

79,671

 

4,891

 

84,562

Two to three years

 

59,651

 

3,006

 

62,657

Three to four years

 

54,967

 

4,797

 

59,764

Four to five years

 

43,259

 

3,884

 

47,143

Over five years

 

16,841

 

10,273

 

27,114

Total lease payments

335,214

30,363

 

365,577

Less: imputed interest

 

(51,840)

 

(7,644)

 

(59,484)

Total operating lease liabilities

$

283,374

$

22,719

 

$

306,093

Current operating lease liabilities

$

61,951

$

2,843

 

$

64,794

Non-current operating lease liabilities

 

221,423

 

19,876

 

241,299

Total operating lease liabilities

$

283,374

$

22,719

 

$

306,093

Maturities of our operating lease liabilities as of December 31, 2025 are as follows (in thousands):

  ​ ​ ​

  ​ ​ ​

Facilities and

  ​ ​ ​

  ​ ​ ​

Vessels

  ​ ​ ​

Equipment

  ​ ​ ​

Total

Less than one year

$

77,129

$

3,627

 

$

80,756

One to two years

 

76,334

 

4,129

 

80,463

Two to three years

 

65,278

 

3,905

 

69,183

Three to four years

 

53,006

 

3,869

 

56,875

Four to five years

 

59,020

 

4,636

 

63,656

Over five years

 

27,237

 

11,950

 

39,187

Total lease payments

358,004

32,116

 

390,120

Less: imputed interest

 

(60,774)

 

(8,530)

 

(69,304)

Total operating lease liabilities

$

297,230

$

23,586

 

$

320,816

Current operating lease liabilities

$

57,240

$

2,968

 

$

60,208

Non-current operating lease liabilities

 

239,990

 

20,618

 

260,608

Total operating lease liabilities

$

297,230

$

23,586

 

$

320,816

Schedule of weighted average remaining lease term and discount rate

June 30, 

December 31, 

  ​ ​ ​

2026

2025

Weighted average remaining lease term

 

4.6

years

5.0

years

Weighted average discount rate

 

7.62

%  

7.68

%

Schedule of other information related to operating leases

The following table presents other information related to our operating leases (in thousands):

Six Months Ended

June 30, 

  ​ ​ ​

2026

  ​ ​ ​

2025

Cash paid for operating lease liabilities

$

45,100

 

$

42,740

Right-of-use assets related to new operating lease liabilities (1)

 

18,535

 

14,692

(1)Our operating lease additions are primarily related to the charter for the Patriot during the six-month period ended June 30, 2026, and the charter for the Trym during the six-month period ended June 30, 2025.