Leases (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Leases [Abstract] |
|
| Schedule of Finance Lease Liabilities |
Finance lease liabilities as of June 30, 2026 and December 31, 2025 consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
June 30, 2026 |
|
|
December 31, 2025 |
|
Finance lease liabilities |
$ |
158,182 |
|
|
$ |
169,990 |
|
Less current portion of finance lease liabilities |
|
(25,759 |
) |
|
|
(25,382 |
) |
Finance lease liabilities, long-term |
$ |
132,423 |
|
|
$ |
144,608 |
|
|
| Schedule of Maturities of Operating and Finance Lease Liabilities |
A maturity analysis of the Company’s operating and finance lease liabilities (excluding short-term leases) at June 30, 2026 is as follows (in thousands):
|
|
|
|
|
|
|
|
Year |
Operating |
|
|
Finance |
|
Remainder of 2026 |
$ |
17,131 |
|
|
$ |
16,617 |
|
2027 |
|
34,416 |
|
|
|
33,235 |
|
2028 |
|
34,685 |
|
|
|
27,584 |
|
2029 |
|
34,094 |
|
|
|
27,571 |
|
2030 |
|
31,845 |
|
|
|
27,571 |
|
Thereafter |
|
43,849 |
|
|
|
58,010 |
|
Total lease payments |
$ |
196,020 |
|
|
$ |
190,588 |
|
Less: imputed interest |
|
(43,863 |
) |
|
|
(32,406 |
) |
Carrying value of lease liabilities |
|
152,157 |
|
|
|
158,182 |
|
Less: current portion |
|
(25,032 |
) |
|
|
(25,759 |
) |
Carrying value of long-term lease liabilities |
$ |
127,125 |
|
|
$ |
132,423 |
|
|
| Schedule of Total Lease Cost |
The Company’s total lease costs for the three and six months ended June 30, 2026 and 2025 recognized in the consolidated statements of income consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Amortization of finance lease right-of-use assets |
$ |
653 |
|
|
$ |
653 |
|
|
$ |
1,305 |
|
|
$ |
1,305 |
|
Interest on finance lease liabilities |
|
2,530 |
|
|
|
2,877 |
|
|
|
5,148 |
|
|
|
5,838 |
|
Operating lease expense |
|
9,155 |
|
|
|
4,954 |
|
|
|
18,131 |
|
|
|
5,435 |
|
Short-term lease expense |
|
154 |
|
|
|
93 |
|
|
|
407 |
|
|
|
250 |
|
Total lease costs |
$ |
12,492 |
|
|
$ |
8,577 |
|
|
$ |
24,991 |
|
|
$ |
12,828 |
|
|
| Schedule of Other Information Related to Leases |
Other information related to leases for the three and six months ended June 30, 2026 and 2025 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Operating cash flows for finance leases |
$ |
2,530 |
|
|
$ |
2,877 |
|
|
$ |
5,148 |
|
|
$ |
5,838 |
|
Financing cash flows for finance leases |
|
5,531 |
|
|
|
5,405 |
|
|
|
11,392 |
|
|
|
10,714 |
|
Operating cash flows for operating leases |
|
8,544 |
|
|
|
4,802 |
|
|
|
16,956 |
|
|
|
5,276 |
|
|