The following table presents the balances of ROU assets and lease liabilities within the balance sheet:


		December 31,
Leases	Balance Sheet Classification	2025		2024
		(In thousands)
Assets:
ROU assets	Other non-current assets	$	155,128	$	221,109

Liabilities:
Current lease liabilities	Accrued expenses and other current liabilities	$	38,752	$	47,795
Long-term lease liabilities	Other long-term liabilities	156,029		303,717
Total lease liabilities		$	194,781	$	351,512

The following table presents the net lease expense within the statement of operations:


		Year Ended December 31,
Lease Expense	Statement of Operations Classification	2025		2024		2023
		(In thousands)
Fixed lease expense	Cost of revenue	$	13	$	19	$	11
Fixed lease expense	Selling and marketing expense	79		84		2,115
Fixed lease expense	General and administrative expense	(4,873)		43,590		93,553

Total fixed lease expense(a)		(4,781)		43,693		95,679

Variable lease expense	Selling and marketing expense	—		—		43
Variable lease expense	General and administrative expense	8,425		14,378		13,577

Total variable lease expense		8,425		14,378		13,620
Net lease expense		$	3,644	$	58,071	$	109,299

_____________________

(a) The year ended December 31, 2025 includes net gains of $41.5 million resulting from the amendments to a lease, which provided for the surrender of certain office space early and is included in “General and administrative expense” in the statement of operations. The year ended December 31, 2023 includes a $44.7 million lease impairment charge related to certain unoccupied leased office space due to the continued decline in the commercial real estate market, which is included in “General and administrative expense” in the statement of operations. The years ended December 31, 2025, 2024 and 2023 also include (i) $9.6 million, $11.2 million and $10.8 million, respectively, of sublease income, (ii) $0.3 million, $0.1 million and $1.2 million, respectively, of additional lease impairments and (iii) $0.5 million, $0.6 million and $1.1 million, respectively, of short-term lease expense. The years ended December 31, 2025 and 2023 also include $(0.1) million and $(0.4) million, respectively, of additional net (losses) gains on terminations of leases. See “Note 2—Summary of Significant Accounting Policies” for additional information on the amendments of lease agreements and impairment charges of ROU assets.

The following is the supplemental cash flow information:


	Year Ended December 31,
	2025		2024		2023
	(In thousands)
ROU assets obtained in exchange for lease liabilities	$	3,802	$	9,339	$	622
Derecognition of ROU assets due to termination or modification	$	(36,539)	$	(28)	$	(28,747)
Cash paid for amounts included in the measurement of lease liabilities	$	100,032	$	65,061	$	70,240

Maturities of lease liabilities at December 31, 2025(b) are summarized below:


Year Ending December 31,	(In thousands)
2026	$	49,192
2027	34,934
2028	35,007
2029	33,698
2030	32,987
Thereafter	48,069
Total	233,887
Less: Interest	39,106
Present value of lease liabilities	$	194,781

_____________________

(b) At December 31, 2025, there were no legally binding minimum lease payments for leases signed but not yet commenced.

The following are the weighted average assumptions used for lease term and discount rate:


	December 31,
	2025	2024
Remaining lease term	6.1 years	7.2 years
Discount rate	6.23%	4.96%