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LEASES
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
LEASES
10. LEASES
The Company has entered into operating leases primarily for office real estate. The leases have remaining terms ranging from less than one year to eight years and may include options to extend or terminate the lease. The depreciable life of operating lease right-of-use assets is limited by the expected lease term.
The components of lease expense are as follows (in thousands):
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Operating lease expense$17,243 $18,423 $35,150 $36,220 
Variable lease expense6,921 5,996 13,009 12,082 
Sublease income(6,337)(5,988)(12,374)(11,102)
Total operating lease expense$17,827 $18,431 $35,785 $37,200 
Supplemental cash flow information related to leases is as follows (in thousands):
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$38,540 $25,599 $65,501 $50,287 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$6,133 $5,614 $7,096 $7,874 
Decrease in operating lease right-of-use assets due to impairment
$— $— $4,920 $2,870 
The Company recorded operating lease right-of-use asset impairment charges of $4.9 million and $2.9 million related to the ceased use of certain of its corporate facilities during the six months ended June 30, 2026 and 2025, respectively. These impairment charges are included within operating expense on the condensed consolidated statements of operations and comprehensive income (loss).
Supplemental balance sheet information related to leases is as follows (in thousands, except lease term and discount rate):
As of
June 30, 2026December 31, 2025
Operating lease right-of-use assets$237,518$260,341
Operating lease liability, current (included in Accrued liabilities)87,70887,425
Operating lease liability, non-current386,410435,899
Total operating lease liability$474,118$523,324
Weighted-average remaining term for operating leases (in years)5.696.11
Weighted-average discount rate for operating leases4.12 %3.99 %
Future lease payments under operating leases as of June 30, 2026 are as follows (in thousands):
Year Ending December 31,
Operating Leases (1)
2026 (remaining 6 months)$52,186 
2027102,713 
202899,501 
202995,886 
203074,242 
Thereafter108,746 
Total future lease payments533,274 
Less: imputed interest(55,897)
Less: expected tenant improvement allowance(3,259)
Total
$474,118 
(1) Non-cancelable sublease proceeds for the fiscal years ending December 31, 2026 (remaining 6 months), 2027, 2028, and 2029 of $9.3 million, $18.8 million, $18.8 million, and $12.0 million, respectively, are not included in the table above.
As of June 30, 2026, the Company had $2.6 million in commitments relating to operating leases that have not yet commenced.