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Leases
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases
11 Leases
As of December 31, 2024 and 2023, the Company had lease agreements that expire at various dates through 2034, with weighted-average remaining lease terms of 3.6 years and 4.5 years, respectively. Rental expense was
$39 million, $38 million and $36 million for the years ended December 31, 2024, 2023 and 2022, respectively. As of December 31, 2024 and 2023, the weighted-average discount rates used to determine the present value of lease liabilities were 4.41% and 4.15% respectively. During the years ended December 31, 2024, 2023 and 2022, cash paid for amounts included in the measurement of lease liabilities in operating activities in the statement of cash flows was $39 million, $38 million and $36 million, respectively. The Company recorded
 a
$3 
million decrease in right-of-use assets in exchange for new operating lease liabilities during the year ended December 31, 2024
. The Company recorded a
 $
2
 million and $
12
 
million increase of right-of-use assets in exchange for new operating lease liabilities during the years ended December 31, 2023 and 2022, respectively. 
 
 
The Company’s
right-of-use
lease assets and lease liabilities included in the consolidated balance sheets are classified as follows (in thousands):
 
December 31,
Financial Statement Classification
2024
2023
Assets:
Property operating lease assets
   Operating lease assets    $ 43,622      $ 55,006  
Automobile operating lease assets
   Operating lease assets      30,013        28,675  
Equipment operating lease assets
   Operating lease assets      558        910  
     
 
 
    
 
 
 
Total lease assets
      $ 74,193      $ 84,591  
     
 
 
    
 
 
 
Liabilities:
        
Current operating lease liabilities
   Current operating lease liabilities    $ 25,537      $ 27,825  
Long-term operating lease liabilities
   Long-term operating lease liabilities      50,317        58,926  
     
 
 
    
 
 
 
Total lease liabilities
      $ 75,854      $ 86,751  
     
 
 
    
 
 
 
Undiscounted future minimum rents payable as of December 31, 2024 under
non-cancelable
leases with initial terms exceeding one year reconcile to lease liabilities included in the consolidated balance sheet as follows (in thousands):
 
2025
   $ 27,783  
2026
     22,880  
2027
     14,991  
2028
     9,259  
2029
     3,211  
2030 and thereafter
     2,701  
  
 
 
 
Total future minimum lease payments
     80,825  
Less: amount of lease payments representing interest
     (4,971
)
 
  
 
 
 
Present value of future minimum lease payments
     75,854  
Less: current operating lease liabilities
     (25,537 )
  
 
 
 
Long-term operating lease liabilities
   $ 50,317