v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases LEASES
We lease various assets in the ordinary course of business as follows: warehouses to store our materials and perform staging activities for certain products we install, various office spaces for selling and administrative activities to support our business, and certain vehicles and equipment to facilitate our operations, including, but not limited to, trucks, forklifts and office equipment.
The table below presents the lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheets (in millions):
As of June 30,As of December 31,
Classification20262025
Assets
Non-Current
OperatingOperating lease right-of-use assets$117.3 $98.7 
FinanceProperty and equipment, net10.6 6.7 
Total lease assets$127.9 $105.4 
Liabilities
Current
OperatingCurrent maturities of operating lease obligations$42.0 $37.0 
FinancingCurrent maturities of finance lease obligations4.3 2.7 
Non-Current
OperatingOperating lease obligations82.3 61.4 
FinancingFinance lease obligations6.4 4.0 
Total lease liabilities$135.0 $105.1 
Weighted-average remaining lease term:
Operating leases4.3 years3.6 years
Finance leases3.5 years2.7 years
Weighted-average discount rate:
Operating leases5.51 %5.55 %
Finance leases6.73 %7.78 %
Lease Costs
The table below presents certain information related to the lease costs for finance and operating leases (in millions):
Three months ended June 30,Six months ended June 30,
Classification2026202520262025
Operating lease cost(1)
Administrative$13.7 $12.5 $27.1 $24.8 
Finance lease cost:
Amortization of leased assets(2)
Cost of sales1.1 0.9 2.2 1.9 
Interest on finance lease obligationsInterest expense, net0.2 0.1 0.3 0.3 
Total lease costs$15.0 $13.5 $29.6 $27.0 
(1)Includes variable lease costs of $2.1 million and $1.7 million for the three months ended June 30, 2026 and 2025, respectively, $4.1 million and $3.3 million for the six months ended June 30, 2026 and 2025, respectively, short-term lease costs of $0.4 million and $0.3 million for the three months ended June 30, 2026 and 2025, respectively, and $0.9 million and $0.8 million for the six months ended June 30, 2026 and 2025, respectively.
(2)Includes variable lease costs of $0.1 million and $0.2 million for the three months ended June 30, 2026 and 2025, respectively, and $0.2 million and $0.4 million for the six months ended June 30, 2026 and 2025, respectively.
Other Information
The table below presents supplemental cash flow information related to leases (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$8.7 $10.4 $19.5 $20.6 
Operating cash flows for finance leases0.2 0.1 0.3 0.3 
Financing cash flows for finance leases0.8 0.7 1.9 1.4 
Undiscounted Cash Flows
The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years for the finance lease obligations and operating lease obligations recorded on the Condensed Consolidated Balance Sheets as of June 30, 2026 (in millions):
Finance LeasesOperating Leases
Related PartyOtherTotal Operating
Remainder of 2026$2.5 $1.1 $25.0 $26.1 
20273.9 1.6 37.9 39.5 
20282.3 1.5 26.7 28.2 
20291.6 1.6 16.3 17.9 
20301.4 1.6 8.7 10.3 
Thereafter0.2 9.2 8.6 17.8 
Total minimum lease payments11.9 $16.6 $123.2 139.8 
Less: Amounts representing interest(1.2)(15.5)
Present value of future minimum lease payments10.7 124.3 
Less: Current obligation under leases(4.3)(42.0)
Long-term lease obligations$6.4 $82.3 
Leases LEASES
We lease various assets in the ordinary course of business as follows: warehouses to store our materials and perform staging activities for certain products we install, various office spaces for selling and administrative activities to support our business, and certain vehicles and equipment to facilitate our operations, including, but not limited to, trucks, forklifts and office equipment.
The table below presents the lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheets (in millions):
As of June 30,As of December 31,
Classification20262025
Assets
Non-Current
OperatingOperating lease right-of-use assets$117.3 $98.7 
FinanceProperty and equipment, net10.6 6.7 
Total lease assets$127.9 $105.4 
Liabilities
Current
OperatingCurrent maturities of operating lease obligations$42.0 $37.0 
FinancingCurrent maturities of finance lease obligations4.3 2.7 
Non-Current
OperatingOperating lease obligations82.3 61.4 
FinancingFinance lease obligations6.4 4.0 
Total lease liabilities$135.0 $105.1 
Weighted-average remaining lease term:
Operating leases4.3 years3.6 years
Finance leases3.5 years2.7 years
Weighted-average discount rate:
Operating leases5.51 %5.55 %
Finance leases6.73 %7.78 %
Lease Costs
The table below presents certain information related to the lease costs for finance and operating leases (in millions):
Three months ended June 30,Six months ended June 30,
Classification2026202520262025
Operating lease cost(1)
Administrative$13.7 $12.5 $27.1 $24.8 
Finance lease cost:
Amortization of leased assets(2)
Cost of sales1.1 0.9 2.2 1.9 
Interest on finance lease obligationsInterest expense, net0.2 0.1 0.3 0.3 
Total lease costs$15.0 $13.5 $29.6 $27.0 
(1)Includes variable lease costs of $2.1 million and $1.7 million for the three months ended June 30, 2026 and 2025, respectively, $4.1 million and $3.3 million for the six months ended June 30, 2026 and 2025, respectively, short-term lease costs of $0.4 million and $0.3 million for the three months ended June 30, 2026 and 2025, respectively, and $0.9 million and $0.8 million for the six months ended June 30, 2026 and 2025, respectively.
(2)Includes variable lease costs of $0.1 million and $0.2 million for the three months ended June 30, 2026 and 2025, respectively, and $0.2 million and $0.4 million for the six months ended June 30, 2026 and 2025, respectively.
Other Information
The table below presents supplemental cash flow information related to leases (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$8.7 $10.4 $19.5 $20.6 
Operating cash flows for finance leases0.2 0.1 0.3 0.3 
Financing cash flows for finance leases0.8 0.7 1.9 1.4 
Undiscounted Cash Flows
The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years for the finance lease obligations and operating lease obligations recorded on the Condensed Consolidated Balance Sheets as of June 30, 2026 (in millions):
Finance LeasesOperating Leases
Related PartyOtherTotal Operating
Remainder of 2026$2.5 $1.1 $25.0 $26.1 
20273.9 1.6 37.9 39.5 
20282.3 1.5 26.7 28.2 
20291.6 1.6 16.3 17.9 
20301.4 1.6 8.7 10.3 
Thereafter0.2 9.2 8.6 17.8 
Total minimum lease payments11.9 $16.6 $123.2 139.8 
Less: Amounts representing interest(1.2)(15.5)
Present value of future minimum lease payments10.7 124.3 
Less: Current obligation under leases(4.3)(42.0)
Long-term lease obligations$6.4 $82.3