Leases (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Leases [Abstract] |
|
| Summary of Lease Costs |
The components of lease costs for the three and nine months ended September 30, 2026 and September 30, 2025 are as follows (in thousands):
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Three Months Ended |
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Nine Months Ended |
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September 30, 2026 |
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September 30, 2025 |
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September 30, 2026 |
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September 30, 2025 |
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Operating lease cost |
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$ |
13,974 |
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|
$ |
16,971 |
|
|
$ |
46,350 |
|
|
$ |
50,235 |
|
Short-term lease cost |
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|
5,658 |
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|
|
3,642 |
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|
|
15,406 |
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|
|
10,309 |
|
Amortization of right-of-use assets |
|
|
1,382 |
|
|
|
1,136 |
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|
|
3,714 |
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|
|
3,413 |
|
Interest on lease liabilities |
|
|
147 |
|
|
|
135 |
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|
|
389 |
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|
|
396 |
|
Sublease income |
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|
(140 |
) |
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|
(974 |
) |
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(1,613 |
) |
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|
(2,796 |
) |
Total lease cost |
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$ |
21,021 |
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|
$ |
20,910 |
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|
$ |
64,246 |
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|
$ |
61,557 |
|
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| Schedule of Supplemental Cash Flow Information Related to Leases |
Supplemental cash flow information related to leases for the nine months ended September 30, 2026 and September 30, 2025 is as follows (in thousands):
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Nine Months Ended |
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September 30, 2026 |
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|
September 30, 2025 |
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Operating cash flows for operating leases |
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$ |
45,087 |
|
|
$ |
49,892 |
|
Operating cash flows for finance leases |
|
|
389 |
|
|
|
396 |
|
Financing cash flows from finance leases |
|
|
3,681 |
|
|
|
3,311 |
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Right-of-use assets obtained in exchange for new operating lease liabilities |
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|
40,217 |
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|
|
18,942 |
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Right-of-use assets obtained in exchange for new finance lease liabilities |
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$ |
5,448 |
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$ |
2,164 |
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| Schedule of Supplemental Balance Sheet and Other Information Related to Leases |
Supplemental balance sheet and other information related to leases as of September 30, 2026 and December 31, 2025 are as follows (in thousands):
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September 30, 2026 |
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December 31, 2025 |
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Operating Leases: |
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Right-of-use assets |
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$ |
157,932 |
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|
$ |
126,770 |
|
Lease liabilities: |
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|
|
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Current |
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|
38,742 |
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|
|
45,353 |
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Long-term |
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|
133,244 |
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|
|
94,044 |
|
Total operating lease liabilities |
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$ |
171,986 |
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|
$ |
139,397 |
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Finance Leases: |
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Other noncurrent assets |
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$ |
11,039 |
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$ |
8,990 |
|
Accrued expenses and other current liabilities |
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|
4,755 |
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|
|
4,118 |
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Other long-term liabilities |
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$ |
6,683 |
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$ |
5,240 |
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Weighted Average Remaining Lease Term: |
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Operating leases |
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5.1 Years |
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|
3.7 Years |
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Finance leases |
|
2.8 Years |
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|
2.6 Years |
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Weighted Average Discount Rate: |
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Operating leases |
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|
4.7 |
% |
|
|
4.6 |
% |
Finance leases |
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|
4.9 |
% |
|
|
4.9 |
% |
|
| Schedule of Maturity Analysis of Future Undiscounted Cash Flows |
A maturity analysis of the future undiscounted cash flows associated with the Company’s operating and finance lease liabilities as of September 30, 2026 is as follows (in thousands):
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Operating Leases |
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Finance Leases |
|
2026 |
|
$ |
12,287 |
|
|
$ |
1,468 |
|
2027 |
|
|
44,263 |
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|
|
4,878 |
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2028 |
|
|
38,070 |
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|
|
3,523 |
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2029 |
|
|
29,955 |
|
|
|
2,070 |
|
2030 |
|
|
21,913 |
|
|
|
639 |
|
Thereafter |
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|
50,704 |
|
|
|
- |
|
Total lease payments |
|
|
197,192 |
|
|
|
12,578 |
|
Less: imputed interest |
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|
(25,206 |
) |
|
|
(1,140 |
) |
Total present value of lease liabilities |
|
$ |
171,986 |
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|
$ |
11,438 |
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