v3.25.4

Leases

12 Months Ended

Dec. 31, 2025

Lessee Disclosure [Abstract]

Leases

LEASES

The Company has operating leases with various terms through September 2038, primarily for office space and office

equipment. The following table provides additional information about the Company’s leases:

	Year Ended December 31,
	2025		2024		2023
Lease costs
Operating lease costs	$35,547		$31,375		$36,907
Short-term lease costs
Operating lease costs	1,550		1,000		870
Sublease income	(600)		(514)		(642)
Lease costs – net	$36,497		$31,861		$37,135
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$34,638		$32,351		$32,933
Non-cash related activities
Right-of-use assets obtained in exchange for new operating lease liabilities	23,692		31,487		11,771
Amortization of right-of-use assets for operating leases	26,658		22,460		24,664
Weighted-average discount rate (percent)
Operating leases	5.4%		5.4%		5.1%
Weighted-average remaining lease term (years)
Operating leases	6.8		7.6		8.2

The estimated future minimum payments of operating leases as of December 31, 2025, were as follows:

2026	$34,969
2027	35,726
2028	30,182
2029	27,860
2030	26,163
Thereafter	61,770
Total undiscounted future lease payments	$216,670
Less: Imputed interest	(37,594)
Present value lease liabilities	$179,076

The Company had three leases with inception dates prior to December 31, 2025, that had not yet commenced as of

December 31, 2025, for total future estimated lease liabilities of $5.2 million.

Leases

LEASES

The Company has operating leases with various terms through September 2038, primarily for office space and office

equipment. The following table provides additional information about the Company’s leases:

	Year Ended December 31,
	2025		2024		2023
Lease costs
Operating lease costs	$35,547		$31,375		$36,907
Short-term lease costs
Operating lease costs	1,550		1,000		870
Sublease income	(600)		(514)		(642)
Lease costs – net	$36,497		$31,861		$37,135
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for operating leases	$34,638		$32,351		$32,933
Non-cash related activities
Right-of-use assets obtained in exchange for new operating lease liabilities	23,692		31,487		11,771
Amortization of right-of-use assets for operating leases	26,658		22,460		24,664
Weighted-average discount rate (percent)
Operating leases	5.4%		5.4%		5.1%
Weighted-average remaining lease term (years)
Operating leases	6.8		7.6		8.2

The estimated future minimum payments of operating leases as of December 31, 2025, were as follows:

2026	$34,969
2027	35,726
2028	30,182
2029	27,860
2030	26,163
Thereafter	61,770
Total undiscounted future lease payments	$216,670
Less: Imputed interest	(37,594)
Present value lease liabilities	$179,076

The Company had three leases with inception dates prior to December 31, 2025, that had not yet commenced as of

December 31, 2025, for total future estimated lease liabilities of $5.2 million.

X

- References

No definition available.

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X

- Definition

The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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

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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

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