XML 28 R17.htm IDEA: XBRL DOCUMENT
v3.26.1

LEASES | 3 Months Ended
--- | ---
Mar. 31, 2026
Leases [Abstract] |
LEASES | 10. LEASES The Company has entered into operating leases primarily for office real estate. The leases have remaining terms ranging from less than one year to eight years and may include options to extend or terminate the lease. The depreciable life of operating lease right-of-use assets is limited by the expected lease term. The components of lease expense are as follows (in thousands):
| Three Months Ended |  |
| March 31, 2026 |  | March 31, 2025 |  |  |  |
Operating lease expense | $ | 17,907 |  |  | $ | 17,797 |  |  |  |  |
Variable lease expense | 6,088 |  |  | 6,086 |  |  |  |  |
Sublease income | (6,037) |  |  | (5,114) |  |  |  |  |
Total operating lease expense | $ | 17,958 |  |  | $ | 18,769 |  |  |  |  |
Supplemental cash flow information related to leases is as follows (in thousands):
| Three Months Ended |  |
| March 31, 2026 |  | March 31, 2025 |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash outflows from operating leases | $ | 26,961 |  |  | $ | 24,688 |  |  |  |  |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |  |  |
Operating leases | $ | 963 |  |  | $ | 2,260 |  |  |  |  |
Decrease in operating lease right-of-use assets due to impairment | $ | 4,920 |  |  | $ | 2,870 |  |  |  |  |
The Company recorded operating lease right-of-use asset impairment charges of $4.9 million and $2.9 million related to the ceased use of certain of its corporate facilities during the three months ended March 31, 2026 and 2025, respectively. These impairment charges are included within operating expense on the condensed consolidated statements of operations and comprehensive income (loss). Supplemental balance sheet information related to leases is as follows (in thousands, except lease term and discount rate):
| As of
| March 31, 2026 |  | December 31, 2025
Operating lease right-of-use assets | $ | 243,701 |  |  | $ | 260,341 |
Operating lease liability, current (included in Accrued liabilities) | 88,412 |  |  | 87,425 |
Operating lease liability, non-current | 412,705 |  |  | 435,899 |
Total operating lease liability | $ | 501,117 |  |  | $ | 523,324 |
Weighted-average remaining term for operating leases (in years) | 5.90 |  | 6.11
Weighted-average discount rate for operating leases | 3.99 | % |  | 3.99 | %
Future lease payments under operating leases as of March 31, 2026 are as follows (in thousands):
Year Ending December 31, | Operating Leases (1)
2026 (remaining 9 months) | $ | 79,896 |
2027 | 103,437 |
2028 | 100,231 |
2029 | 96,615 |
2030 | 76,217 |
Thereafter | 109,876 |
Total future lease payments | 566,272 |
Less: imputed interest | (61,896) |
Less: expected tenant improvement allowance | (3,259) |
Total | $ | 501,117 |
(1) Non-cancelable sublease proceeds for the fiscal years ending December 31, 2026 (remaining 9 months), 2027, 2028, and 2029 of $14.0 million, $18.8 million, $18.8 million, and $12.0 million, respectively, are not included in the table above.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration