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LEASES

6 Months Ended

Jun. 30, 2024

Leases

Leases

NOTE 5 – LEASES

The Company leases certain office space, retail stores, distribution centers, and equipment under long-term, non-cancelable operating leases. The following table summarizes Total lease cost for the three and six months ended June 30, 2024 and 2023, which were primarily included in “Selling, general and administrative expenses” on the accompanying Condensed Consolidated Statements of Income (in thousands):


		For the Three Months Ended						For the Six Months Ended
		June 30,						June 30,
		2024			2023			2024			2023
Operating lease cost		$	105,039		$	99,547		$	208,595		$	196,065
Short-term operating lease cost			1,910			1,801			4,410			5,505
Variable operating lease cost			29,545			25,090			55,179			49,561
Sublease income			(1,212)			(1,275)			(2,366)			(2,489)
Total lease cost		$	135,282		$	125,163		$	265,818		$	248,642

The following table summarizes other lease-related information for the six months ended June 30, 2024 and 2023:


			For the Six Months Ended
			June 30,
			2024			2023
Cash paid for amounts included in the measurement of operating lease liabilities:
	Operating cash flows from operating leases		$	205,149		$	192,444
Right-of-use assets obtained in exchange for new operating lease liabilities				181,442			219,849