Significant accounting policies (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of reconciliation of cash and cash equivalents and 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:


	As of
	June 30, 2026		June 30, 2025
Cash and cash equivalents	$	94,588	$	87,747
Restricted cash	12,380		14,522
Total cash and cash equivalents and restricted cash	$	106,968	$	102,269

Schedule of Cash and Cash Equivalents


	As of
	June 30, 2026		June 30, 2025
Cash and cash equivalents	$	94,588	$	87,747
Restricted cash	12,380		14,522
Total cash and cash equivalents and restricted cash	$	106,968	$	102,269

Summary of property, plant and equipment, net and related accumulated depreciation

The Company's property, plant and equipment is segregated into the following asset classes:


Asset class			Estimated useful lives
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.

Property, plant and equipment, net consist of the following as of June 30, 2026 and December 31, 2025:


	As of
	June 30, 2026		December 31, 2025
Land	$	12,937	$	12,937
Building and improvements	564,292		548,388
Furniture and fixtures	113,087		108,750
Machinery and equipment	141,730		133,648
Information technology	1,103		27,668
Construction in progress	23,083		22,618
Property, plant and equipment, gross	856,232		854,009
Less: Accumulated depreciation	(350,334)		(333,623)
Property, plant and equipment, net	$	505,898	$	520,386

For the three and six months ended June 30, 2026 and 2025, depreciation expense was as follows:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
Depreciation expense(1):
Cost of goods sold	$	12,841	$	11,952	$	25,345	$	23,767
Operating expenses	7,222		9,100		14,376		18,463
Total depreciation expense	$	20,063	$	21,052	$	39,721	$	42,230

(1) Includes depreciation expense associated with assets under failed sale and leaseback obligations. See Note 12 — Failed sale and leaseback arrangements for further detail.

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)
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			3-7 years

(1) The Company holds no intangible assets with indefinite useful lives.

Identifiable intangible assets consisted of the following as of June 30, 2026 and December 31, 2025:


As of June 30, 2026	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Licenses and service agreements	$	1,311,933	$	(463,952)	$	847,981
Trade names	162,425		(70,204)		92,221
Non-compete agreements	25,145		(15,687)		9,458
Intellectual property and know-how	9,365		(4,682)		4,683
Internal-use software	2,319		(628)		1,691
Customer relationships	68		(28)		40
Intangible assets, net(1)	$	1,511,255	$	(555,181)	$	956,074

(1) Intangible assets held by the Company’s international subsidiaries are subject to foreign currency translation adjustments.


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.

The remaining weighted average amortization period for each major class as of June 30, 2026 was as follows:


Asset class:						Weighted Average Amortization (in years)
Licenses and service agreements						11.57
Trade names						11.09
Non-compete agreements						4.87
Internal-use software						3.81
Intellectual property and know-how						2.50
Customer relationships						1.75