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Leases (Tables)
9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Summary of Lease Costs

The components of lease costs for the three and nine months ended September 30, 2025 and September 30, 2024 are as follows (in thousands):

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2025

 

 

September 30, 2024

 

 

September 30, 2025

 

 

September 30, 2024

 

Operating lease cost

 

$

16,971

 

 

$

16,022

 

 

$

50,235

 

 

$

49,584

 

Short-term lease cost

 

 

3,642

 

 

 

4,480

 

 

 

10,309

 

 

 

11,912

 

Amortization of right-of-use assets

 

 

1,136

 

 

 

923

 

 

 

3,413

 

 

 

2,535

 

Interest on lease liabilities

 

 

135

 

 

 

115

 

 

 

396

 

 

 

313

 

Sublease income

 

 

(974

)

 

 

(1,008

)

 

 

(2,796

)

 

 

(3,246

)

Total lease cost

 

$

20,910

 

 

$

20,532

 

 

$

61,557

 

 

$

61,098

 

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases for the nine months ended September 30, 2025 and September 30, 2024 is as follows (in thousands):

 

 

 

Nine Months Ended

 

 

 

September 30, 2025

 

 

September 30, 2024

 

Operating cash flows for operating leases

 

$

49,892

 

 

$

51,013

 

Operating cash flows for finance leases

 

 

396

 

 

 

313

 

Financing cash flows from finance leases

 

 

3,311

 

 

 

2,419

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

 

18,942

 

 

 

15,633

 

Right-of-use assets obtained in exchange for new finance lease liabilities

 

$

2,164

 

 

$

4,003

 

Schedule of Supplemental Balance Sheet and Other Information Related to Leases

Supplemental balance sheet and other information related to leases as of September 30, 2025 and December 31, 2024 are as follows (in thousands):

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Operating Leases:

 

 

 

 

 

 

Right-of-use assets

 

$

133,535

 

 

$

153,048

 

Lease liabilities:

 

 

 

 

 

 

Current

 

 

49,514

 

 

 

52,725

 

Long-term

 

 

97,673

 

 

 

114,386

 

Total operating lease liabilities

 

$

147,187

 

 

$

167,111

 

Finance Leases:

 

 

 

 

 

 

Other noncurrent assets

 

$

9,519

 

 

$

9,864

 

Accrued expenses and other current liabilities

 

$

4,072

 

 

$

3,645

 

Other long-term liabilities

 

$

5,792

 

 

$

6,441

 

 

 

 

 

 

 

 

Weighted Average Remaining Lease Term:

 

 

 

 

 

 

Operating leases

 

3.7 Years

 

 

3.9 Years

 

Finance leases

 

2.7 Years

 

 

2.8 Years

 

Weighted Average Discount Rate:

 

 

 

 

 

 

Operating leases

 

 

4.6

%

 

 

4.5

%

Finance leases

 

 

5.0

%

 

 

5.0

%

Schedule of Maturity Analysis of Future Undiscounted Cash Flows

A maturity analysis of the future undiscounted cash flows associated with the Company’s operating and finance lease liabilities as of September 30, 2025 is as follows (in thousands):

 

 

 

Operating Leases

 

 

Finance Leases

 

2025 (remaining)

 

$

15,831

 

 

$

1,178

 

2026

 

 

48,882

 

 

 

4,383

 

2027

 

 

34,576

 

 

 

3,131

 

2028

 

 

28,496

 

 

 

1,791

 

2029

 

 

21,053

 

 

 

393

 

Thereafter

 

 

11,421

 

 

 

48

 

Total lease payments

 

 

160,259

 

 

 

10,924

 

Less: imputed interest

 

 

(13,072

)

 

 

(1,060

)

Total present value of lease liabilities

 

$

147,187

 

 

$

9,864