v3.26.1
Leases
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
Leases Leases
The Company has operating leases for certain facilities, equipment and automobiles. The existing operating leases expire at various dates through 2039, some of which include options to extend the leases for up to five years. The Company measured the lease liability at the present value of the lease payments to be made over the lease term. The lease payments are discounted using the Company's incremental borrowing rate. The Company measured the ROU assets at the amount at which the lease liability is recognized plus initial direct costs incurred or prepayment amounts. The ROU assets are amortized on a straight-line basis over the lease term.

The following table provides a summary of leases included on the Condensed Consolidated Balance Sheets as of June 30, 2026 and 2025 and December 31, 2025, Condensed Consolidated Statements of Earnings and Comprehensive Income, and Condensed Consolidated Statements of Cash Flows for the three and six months ended June 30, 2026 and 2025:
Condensed Consolidated Balance Sheets Line ItemJune 30,December 31,
(in thousands)202620252025
Operating leases
AssetsOperating lease right-of-use assets$109,521 $100,649 $115,060 
Liabilities
CurrentAccrued expenses and other current liabilities$22,741 $19,697 $20,253 
Noncurrent Operating lease liabilities90,372 83,001 96,819 
Total operating lease liabilities$113,113 $102,698 $117,072 

The components of lease expense were as follows:
Condensed Consolidated Statements of Earnings and Comprehensive Income Line ItemThree Months Ended
 June 30,		Six Months Ended
 June 30,
(in thousands)2026202520262025
Lease costGeneral administrative expenses and cost of sales$6,959 $6,489 $14,014 $13,007 

Other Information

Supplemental cash flow information related to leases is as follows:
Three Months Ended
 June 30,		Six Months Ended
 June 30,
(in thousands)2026202520262025
Cash paid for amounts included in the measurement of lease liabilities:
   Operating cash flows for operating leases$6,099 $6,240 $12,406 $12,371 
Operating right-of-use assets obtained in exchange for new lease liabilities4,906 2,340 5,899 26,842 

The following is a schedule, by years, of maturities of operating lease liabilities as of June 30, 2026:
(in thousands)Operating Leases
Remaining six months of 2026$14,328 
202726,022 
202822,677 
202918,555 
203014,279 
20319,714 
Thereafter27,010 
Total lease payments132,585 
Less: Present value discount(19,472)
     Total lease liabilities$113,113 

The following table summarizes the Company's lease terms and discount rates as of June 30, 2026 and 2025:
20262025
Weighted-average remaining lease terms (in years)6.46.5
Weighted-average discount rate5.1 %5.2 %
Leases Leases
The Company has operating leases for certain facilities, equipment and automobiles. The existing operating leases expire at various dates through 2039, some of which include options to extend the leases for up to five years. The Company measured the lease liability at the present value of the lease payments to be made over the lease term. The lease payments are discounted using the Company's incremental borrowing rate. The Company measured the ROU assets at the amount at which the lease liability is recognized plus initial direct costs incurred or prepayment amounts. The ROU assets are amortized on a straight-line basis over the lease term.

The following table provides a summary of leases included on the Condensed Consolidated Balance Sheets as of June 30, 2026 and 2025 and December 31, 2025, Condensed Consolidated Statements of Earnings and Comprehensive Income, and Condensed Consolidated Statements of Cash Flows for the three and six months ended June 30, 2026 and 2025:
Condensed Consolidated Balance Sheets Line ItemJune 30,December 31,
(in thousands)202620252025
Operating leases
AssetsOperating lease right-of-use assets$109,521 $100,649 $115,060 
Liabilities
CurrentAccrued expenses and other current liabilities$22,741 $19,697 $20,253 
Noncurrent Operating lease liabilities90,372 83,001 96,819 
Total operating lease liabilities$113,113 $102,698 $117,072 

The components of lease expense were as follows:
Condensed Consolidated Statements of Earnings and Comprehensive Income Line ItemThree Months Ended
 June 30,		Six Months Ended
 June 30,
(in thousands)2026202520262025
Lease costGeneral administrative expenses and cost of sales$6,959 $6,489 $14,014 $13,007 

Other Information

Supplemental cash flow information related to leases is as follows:
Three Months Ended
 June 30,		Six Months Ended
 June 30,
(in thousands)2026202520262025
Cash paid for amounts included in the measurement of lease liabilities:
   Operating cash flows for operating leases$6,099 $6,240 $12,406 $12,371 
Operating right-of-use assets obtained in exchange for new lease liabilities4,906 2,340 5,899 26,842 

The following is a schedule, by years, of maturities of operating lease liabilities as of June 30, 2026:
(in thousands)Operating Leases
Remaining six months of 2026$14,328 
202726,022 
202822,677 
202918,555 
203014,279 
20319,714 
Thereafter27,010 
Total lease payments132,585 
Less: Present value discount(19,472)
     Total lease liabilities$113,113 

The following table summarizes the Company's lease terms and discount rates as of June 30, 2026 and 2025:
20262025
Weighted-average remaining lease terms (in years)6.46.5
Weighted-average discount rate5.1 %5.2 %