10-Q Significant accounting policies (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| Accounting Policies [Abstract] |
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| Schedule of restricted cash and cash equivalents |
The reconciliation of cash and cash equivalents and restricted cash reported within the applicable balance sheet that sum to the total of the same such amounts shown in the statements of cash flows is as follows: | | | | | | | | | | | | | | | | | | | Years ended December 31, | | 2025 | | 2024 | | 2023 | Cash and cash equivalents | $ | 89,213 | | | $ | 93,026 | | | $ | 83,219 | | Restricted cash | 12,360 | | | 14,200 | | | 8,599 | | Total cash and cash equivalents and restricted cash | $ | 101,573 | | | $ | 107,226 | | | $ | 91,818 | |
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| Schedule of cash and cash equivalents |
The reconciliation of cash and cash equivalents and restricted cash reported within the applicable balance sheet that sum to the total of the same such amounts shown in the statements of cash flows is as follows: | | | | | | | | | | | | | | | | | | | Years ended December 31, | | 2025 | | 2024 | | 2023 | Cash and cash equivalents | $ | 89,213 | | | $ | 93,026 | | | $ | 83,219 | | Restricted cash | 12,360 | | | 14,200 | | | 8,599 | | Total cash and cash equivalents and restricted cash | $ | 101,573 | | | $ | 107,226 | | | $ | 91,818 | |
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| Summary of property, plant and equipment, net |
The Company’s property, plant and equipment is segregated into the following asset classes: | | | | | | | | | Asset Class | | Estimated useful lives(2) | Land | | Indefinite life | | | | Building and improvements(1) | | 10-39 years | Furniture and fixtures | | 3-5 years | Machinery and equipment | | 3-7 years | Information technology | | 3-7 years | (1) Leasehold improvements are depreciated over the shorter of the asset’s useful life or the remaining lease term. | (2) At each fiscal year-end, the Company reviews the estimated useful lives, residual values and depreciation methods of its Property, plant and equipment and applies any resulting adjustments prospectively. |
Property, plant and equipment, net consist of the following as of December 31, 2025 and 2024: | | | | | | | | | | | | | | | | | As of December 31, | | | 2025 | | 2024 | Land | | $ | 12,937 | | | $ | 7,616 | | Building and improvements | | 548,388 | | | 499,279 | | Furniture and fixtures | | 108,750 | | | 86,606 | | Machinery and equipment | | 133,648 | | | 114,904 | | Information technology | | 27,668 | | | 27,376 | | Construction in progress | | 22,618 | | | 67,579 | | Property, plant and equipment, gross | | 854,009 | | | 803,360 | | Less: Accumulated depreciation | | (333,623) | | | (260,756) | | Property, plant and equipment, net | | $ | 520,386 | | | $ | 542,604 | | | | | | | |
The components of the Company’s depreciation expense for the years ended December 31, 2025, 2024 and 2023 were as follows: | | | | | | | | | | | | | | | | | | | | | | | Years Ended December 31, | Depreciation expense(1): | | 2025 | | 2024 | | 2023 | Cost of goods sold | | $ | 48,526 | | | $ | 49,399 | | | $ | 48,228 | | Operating expenses | | 35,359 | | | 33,867 | | | 26,286 | | Total depreciation expense | | $ | 83,885 | | | $ | 83,266 | | | $ | 74,514 | | | | | | | | | (1) Includes depreciation expense associated with assets under failed sale and leaseback arrangements. See Note 12 — Failed sale and leaseback arrangements for further detail. |
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| Schedule of intangible assets subject to amortization |
The Company's intangible assets are segregated into asset classes with the following estimated useful lives: | | | | | | | | | Asset class | | Estimated useful lives(1)(2) | Non-compete agreements | | 1-15 years | Trade names | | 1-20 years | Intellectual property and know-how | | 5-15 years | Licenses and service agreements | | 5-30 years | Customer relationships | | 3 years | Internal-use software | | 3-5 years | | | | (1) At each fiscal year-end, the Company reviews the estimated useful lives and residual values of its intangible assets and applies any resulting adjustments prospectively. | (2) The Company holds no intangible assets with indefinite useful lives. |
Identifiable intangible assets consisted of the following as of December 31, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | As of December 31, 2025 | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | Licenses and service agreements | | $ | 1,318,987 | | | $ | (422,887) | | | $ | 896,100 | | Trade names | | 162,903 | | | (65,877) | | | 97,026 | | Non-compete agreements | | 25,244 | | | (14,591) | | | 10,653 | | Intellectual property and know-how | | 9,577 | | | (3,790) | | | 5,787 | | Internal-use software | | 1,716 | | | (220) | | | 1,496 | | Customer relationships | | 71 | | | (18) | | | 53 | | Intangible assets, net(1) | | $ | 1,518,498 | | | $ | (507,383) | | | $ | 1,011,115 | | | | | | | | | (1) Intangible assets held by the Company’s international subsidiaries are subject to foreign currency translation adjustments. |
| | | | | | | | | | | | | | | | | | | | | As of December 31, 2024 | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | Licenses and service agreements | | $ | 1,289,829 | | | $ | (331,589) | | | $ | 958,240 | | Trade names | | 166,843 | | | (60,375) | | | 106,468 | | Non-compete agreements | | 32,337 | | | (19,490) | | | 12,847 | | Intellectual property and know-how | | 9,365 | | | (1,889) | | | 7,476 | | Internal-use software | | 370 | | | (4) | | | 366 | | Intangible assets, net(1) | | $ | 1,498,744 | | | $ | (413,347) | | | $ | 1,085,397 | | | | | | | | | (1) Intangible assets held by the Company’s international subsidiaries are subject to foreign currency translation adjustments. |
| | | | | | | | | Asset Class | | Weighted Average Amortization (years): | Licenses and service agreements | | 11.99 | Trade names | | 11.53 | Non-compete agreements | | 5.45 | Internal-use software | | 4.77 | Intellectual property and know-how | | 3.03 | Customer relationships | | 2.25 |
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