Leases (Tables)

6 Months Ended

Jun. 30, 2026

The table below presents the lease-related assets and liabilities recorded on the condensed consolidated balance sheets (in thousands, except for remaining lease terms and percentages):


	June 30, 2026			December 31, 2025
Operating Leases
Assets
Operating lease right-of-use assets	$	163,885		$	165,579
Liabilities
Operating lease liabilities, current	$	28,261		$	28,068
Operating lease liabilities, non-current	156,279			159,904
Total operating lease liabilities	$	184,540		$	187,972

Finance Leases
Assets
Finance lease right-of-use assets(1)	$	59,115		$	69,522
Liabilities
Finance lease liabilities, current(2)	$	33,176		$	35,750
Finance lease liabilities, non-current(3)	30,641			39,572
Total finance lease liabilities	$	63,817		$	75,322

Weighted-average remaining lease term (years)
Operating leases	6.6			7.0
Finance leases	1.9			2.1
Weighted-average discount rate
Operating leases	6.5		%	6.5		%
Finance leases	6.1		%	6.0		%

_______________

(1)This balance is included within property and equipment, net on the condensed consolidated balance sheets.

(2)This balance is included within accrued and other current liabilities on the condensed consolidated balance sheets.

(3)This balance is included within other liabilities on the condensed consolidated balance sheets.

Schedule of Lease Costs and Supplemental Cash Flow Information

The table below presents certain information related to the costs for operating leases and finance leases (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Operating Leases
Operating lease cost	$	10,627	$	8,613	$	21,022	$	17,029

Finance Leases
Amortization of right-of-use assets	$	7,924	$	7,573	$	16,006	$	15,465
Interest on lease liabilities	985		1,155		2,038		2,456

Other Lease Costs
Short-term lease cost	$	753	$	619	$	1,382	$	1,381
Variable lease cost(1)	1,777		1,645		3,700		3,359
Total lease cost	$	22,066	$	19,605	$	44,148	$	39,690

_______________

(1)Consists primarily of common-area maintenance and taxes and utilities for real estate leases.

The table below presents certain supplemental information related to the cash flows for operating and finance leases recorded on the condensed consolidated statements of cash flows (in thousands):


	Six Months Ended June 30,
	2026		2025
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	22,734	$	21,248
Operating cash flows from finance leases	1,703		2,230
Financing cash flows from finance leases	23,147		20,933

Schedule of Operating Lease Liabilities

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the lease liabilities recorded on the condensed consolidated balance sheets as of June 30, 2026 (in thousands):


	Operating Leases		Finance Leases		Total Leases
Remainder of 2026	$	17,293	$	20,224	$	37,517
2027	42,871		26,931		69,802
2028	35,162		19,581		54,743
2029	33,350		1,145		34,495
2030	23,934		20		23,954
Thereafter	75,996		—		75,996
Total minimum lease payments	228,606		67,901		296,507
Less: amount of lease payments representing interest	(44,066)		(4,084)		(48,150)
Present value of future lease payments	184,540		63,817		248,357
Less: current obligations under leases	(28,261)		(33,176)		(61,437)
Long-term lease obligations	$	156,279	$	30,641	$	186,920

Schedule of Finance Lease Liabilities


	Operating Leases		Finance Leases		Total Leases
Remainder of 2026	$	17,293	$	20,224	$	37,517
2027	42,871		26,931		69,802
2028	35,162		19,581		54,743
2029	33,350		1,145		34,495
2030	23,934		20		23,954
Thereafter	75,996		—		75,996
Total minimum lease payments	228,606		67,901		296,507
Less: amount of lease payments representing interest	(44,066)		(4,084)		(48,150)
Present value of future lease payments	184,540		63,817		248,357
Less: current obligations under leases	(28,261)		(33,176)		(61,437)
Long-term lease obligations	$	156,279	$	30,641	$	186,920