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LEASES

9 Months Ended

Sep. 30, 2025

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 nine months ended September 30, 2025 and 2024, 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 Nine Months Ended
		September 30,						September 30,
		2025			2024			2025			2024
Operating lease cost		$	115,938		$	107,146		$	341,408		$	315,741
Short-term operating lease cost			1,629			1,965			6,513			6,375
Variable operating lease cost			32,281			29,386			97,255			84,565
Sublease income			(1,501)			(1,315)			(3,773)			(3,681)
Total lease cost		$	148,347		$	137,182		$	441,403		$	403,000

The following table summarizes other lease-related information for the nine months ended September 30, 2025 and 2024:


			For the Nine Months Ended
			September 30,
			2025			2024
Cash paid for amounts included in the measurement of operating lease liabilities:
	Operating cash flows from operating leases		$	337,138		$	309,572
Right-of-use assets obtained in exchange for new operating lease liabilities				302,623			291,486