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Leases
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Leases 7. Leases
Real Estate Operating Leases
The Company had approximately 60 real estate property leases as of June 30, 2025. These leases are classified as operating leases. As of June 30, 2025, the remaining lease terms vary from approximately one month to nine years. For certain leases the Company has options to extend the lease term for periods varying from one month to ten years. These renewal options are not considered in the remaining lease term unless it is reasonably certain that the Company will exercise such options. For leases with an initial term of 12 months or longer, the Company has recorded a right-of-use asset and lease liability representing the fixed component of the lease payment. The Company does not separate lease and non-lease components of these contracts and any fixed payments related to non-lease components, such as common area maintenance or other services provided by the landlord, are accounted for as a component of the lease payment and therefore, a part of the total lease cost.
Flexdrive Program
The Company operates a fleet of rental vehicles through Flexdrive, a portion of which are leased from third-party vehicle leasing companies. These leases are classified as finance leases and are included in property and equipment, net on the condensed consolidated balance sheets. As of June 30, 2025, the remaining lease terms vary between one month to four years.
The Company has elected to separate lease and non-lease components for vehicles. These leases generally do not contain any non-lease components and, as such, all payments due under these arrangements are allocated to the respective lease component.
Lease Position
The table below presents the lease-related assets and liabilities recorded on the condensed consolidated balance sheets (in thousands, except for remaining lease terms and percentages):
June 30,
2025		December 31,
2024
Operating Leases
Assets
Operating lease right-of-use assets
$142,788$148,397
Liabilities
Operating lease liabilities, current
$24,482$25,192
Operating lease liabilities, non-current
142,854152,074
Total operating lease liabilities$167,336$177,266
Finance Leases
Assets
Finance lease right-of-use assets(1)
$62,800$79,704
Liabilities
Finance lease liabilities, current(2)
$29,151$31,268
Finance lease liabilities, non-current(3)
39,55754,351
Total finance lease liabilities$68,708$85,619
Weighted-average remaining lease term (years)
Operating leases7.37.7
Finance leases2.32.6
Weighted-average discount rate
Operating leases6.6 %6.6 %
Finance leases6.4 %6.4 %
_______________
(1)This balance is included within property and equipment, net on the condensed consolidated balance sheets and is primarily related to Flexdrive.
(2)This balance is included within other current liabilities on the condensed consolidated balance sheets and is primarily related to Flexdrive.
(3)This balance is included within other liabilities on the condensed consolidated balance sheets and is primarily related to Flexdrive.
Lease Costs
The table below presents certain information related to the costs for operating leases and finance leases (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating Leases
Operating lease cost$8,613 $9,481 $17,029 $19,485 
Finance Leases
Amortization of right-of-use assets$7,573 $6,897 $15,465 $13,203 
Interest on lease liabilities1,155 1,516 2,456 2,862 
Other Lease Costs
Short-term lease cost$619 $925 $1,381 $1,870 
Variable lease cost (1)
1,645 2,578 3,359 5,170 
Total lease cost$19,605 $21,397 $39,690 $42,590 
_______________
(1)Consists primarily of common area maintenance and taxes and utilities for real estate leases.
Sublease income was immaterial for the three and six months ended June 30, 2025 and 2024. Sublease income is included within other income, net on the condensed consolidated statement of operations. The related lease expense for these leases is included within costs and expenses on the condensed consolidated statement of operations.
The table below presents certain supplemental information related to the cash flows for operating and finance leases recorded on the condensed consolidated statements of cash flows (in thousands):
Six Months Ended June 30,
20252024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$21,248 $30,496 
Operating cash flows from finance leases2,230 2,609 
Financing cash flows from finance leases20,933 23,629 
Undiscounted Cash Flows
The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the lease liabilities recorded on the condensed consolidated balance sheets as of June 30, 2025 (in thousands):
Operating LeasesFinance LeasesTotal Leases
Remainder of 2025$15,252 $16,658 $31,910 
202635,883 32,089 67,972 
202731,421 16,192 47,613 
202826,235 9,648 35,883 
202925,307 66 25,373 
Thereafter78,833 — 78,833 
Total minimum lease payments212,931 74,653 287,584 
Less: amount of lease payments representing interest(45,595)(5,945)(51,540)
Present value of future lease payments167,336 68,708 236,044 
Less: current obligations under leases(24,482)(29,151)(53,633)
Long-term lease obligations$142,854 $39,557 $182,411 
Future lease payments receivable in car rental transactions under the Flexdrive program are not material since the lease term is less than a month.
Leases 7. Leases
Real Estate Operating Leases
The Company had approximately 60 real estate property leases as of June 30, 2025. These leases are classified as operating leases. As of June 30, 2025, the remaining lease terms vary from approximately one month to nine years. For certain leases the Company has options to extend the lease term for periods varying from one month to ten years. These renewal options are not considered in the remaining lease term unless it is reasonably certain that the Company will exercise such options. For leases with an initial term of 12 months or longer, the Company has recorded a right-of-use asset and lease liability representing the fixed component of the lease payment. The Company does not separate lease and non-lease components of these contracts and any fixed payments related to non-lease components, such as common area maintenance or other services provided by the landlord, are accounted for as a component of the lease payment and therefore, a part of the total lease cost.
Flexdrive Program
The Company operates a fleet of rental vehicles through Flexdrive, a portion of which are leased from third-party vehicle leasing companies. These leases are classified as finance leases and are included in property and equipment, net on the condensed consolidated balance sheets. As of June 30, 2025, the remaining lease terms vary between one month to four years.
The Company has elected to separate lease and non-lease components for vehicles. These leases generally do not contain any non-lease components and, as such, all payments due under these arrangements are allocated to the respective lease component.
Lease Position
The table below presents the lease-related assets and liabilities recorded on the condensed consolidated balance sheets (in thousands, except for remaining lease terms and percentages):
June 30,
2025		December 31,
2024
Operating Leases
Assets
Operating lease right-of-use assets
$142,788$148,397
Liabilities
Operating lease liabilities, current
$24,482$25,192
Operating lease liabilities, non-current
142,854152,074
Total operating lease liabilities$167,336$177,266
Finance Leases
Assets
Finance lease right-of-use assets(1)
$62,800$79,704
Liabilities
Finance lease liabilities, current(2)
$29,151$31,268
Finance lease liabilities, non-current(3)
39,55754,351
Total finance lease liabilities$68,708$85,619
Weighted-average remaining lease term (years)
Operating leases7.37.7
Finance leases2.32.6
Weighted-average discount rate
Operating leases6.6 %6.6 %
Finance leases6.4 %6.4 %
_______________
(1)This balance is included within property and equipment, net on the condensed consolidated balance sheets and is primarily related to Flexdrive.
(2)This balance is included within other current liabilities on the condensed consolidated balance sheets and is primarily related to Flexdrive.
(3)This balance is included within other liabilities on the condensed consolidated balance sheets and is primarily related to Flexdrive.
Lease Costs
The table below presents certain information related to the costs for operating leases and finance leases (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Operating Leases
Operating lease cost$8,613 $9,481 $17,029 $19,485 
Finance Leases
Amortization of right-of-use assets$7,573 $6,897 $15,465 $13,203 
Interest on lease liabilities1,155 1,516 2,456 2,862 
Other Lease Costs
Short-term lease cost$619 $925 $1,381 $1,870 
Variable lease cost (1)
1,645 2,578 3,359 5,170 
Total lease cost$19,605 $21,397 $39,690 $42,590 
_______________
(1)Consists primarily of common area maintenance and taxes and utilities for real estate leases.
Sublease income was immaterial for the three and six months ended June 30, 2025 and 2024. Sublease income is included within other income, net on the condensed consolidated statement of operations. The related lease expense for these leases is included within costs and expenses on the condensed consolidated statement of operations.
The table below presents certain supplemental information related to the cash flows for operating and finance leases recorded on the condensed consolidated statements of cash flows (in thousands):
Six Months Ended June 30,
20252024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$21,248 $30,496 
Operating cash flows from finance leases2,230 2,609 
Financing cash flows from finance leases20,933 23,629 
Undiscounted Cash Flows
The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the lease liabilities recorded on the condensed consolidated balance sheets as of June 30, 2025 (in thousands):
Operating LeasesFinance LeasesTotal Leases
Remainder of 2025$15,252 $16,658 $31,910 
202635,883 32,089 67,972 
202731,421 16,192 47,613 
202826,235 9,648 35,883 
202925,307 66 25,373 
Thereafter78,833 — 78,833 
Total minimum lease payments212,931 74,653 287,584 
Less: amount of lease payments representing interest(45,595)(5,945)(51,540)
Present value of future lease payments167,336 68,708 236,044 
Less: current obligations under leases(24,482)(29,151)(53,633)
Long-term lease obligations$142,854 $39,557 $182,411 
Future lease payments receivable in car rental transactions under the Flexdrive program are not material since the lease term is less than a month.