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LEASES
 6 Months Ended
Jun. 30, 2026
Leases [Abstract]  
LEASES LEASES
The Company has operating leases for certain of its full service and back-up early education and child care centers, corporate offices, call centers, and to a lesser extent, various office equipment, in the United States, the United Kingdom, the Netherlands, and Australia. Most of the leases expire within 10 to 15 years and many contain renewal options and/or termination provisions. As of June 30, 2026 and December 31, 2025, there were no material finance leases.
Lease Expense
The components of lease expense were as follows:
Three months ended June 30,Six months ended June 30,
2026202520262025
(In thousands)
Operating lease expense (1)
$47,604 $37,663 $85,133 $74,058 
Variable lease expense (1)
11,034 12,017 22,183 23,354 
Total lease expense$58,638 $49,680 $107,316 $97,412 
(1) Excludes short-term lease expense and sublease income, which were immaterial for the periods presented.
Operating lease expense for the three months ended June 30, 2026 includes impairment losses on operating lease right-of-use assets of $11.1 million. Refer to Note 9, Fair Value Measurements, and Note 11, Segment Information, for additional information.
Other Information
The weighted average remaining lease term and the weighted average discount rate were as follows:
June 30, 2026December 31, 2025
Weighted average remaining lease term (in years)99
Weighted average discount rate7.1%7.0%
Maturity of Lease Liabilities
The following table summarizes the maturity of lease liabilities as of June 30, 2026:
Operating Leases
(In thousands)
Remainder of 2026$70,345 
2027156,113 
2028143,386 
2029127,674 
2030106,177 
Thereafter446,789 
Total lease payments1,050,484 
Less imputed interest(283,083)
Present value of lease liabilities767,401 
Less current portion of operating lease liabilities
(110,405)
Long-term operating lease liabilities$656,996 
As of June 30, 2026, the Company had not entered into additional operating leases that have not yet commenced.