XML 28 R16.htm IDEA: XBRL DOCUMENT
v3.25.3

LEASE OBLIGATIONS | 9 Months Ended
--- | ---
Sep. 30, 2025
Leases [Abstract] |
LEASE OBLIGATIONS |
10. | LEASE OBLIGATIONS
The Company has operating and finance leases primarily for construction and transportation equipment, as well as office space. The Company’s leases have remaining lease terms of one month to ten years, some of which include options to extend the leases for up to ten years. The components of lease expense are as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost | $ | 5,406 |  |  | $ | 5,639 |  |  | $ | 16,935 |  |  | $ | 17,014 |
Short-term lease cost | $ | 7,902 |  |  | $ | 8,380 |  |  | $ | 20,694 |  |  | $ | 19,282 |
Finance lease cost: |  |  |  |  |  |  |
Amortization of right-of-use assets | $ | 32 |  |  | $ | 30 |  |  | $ | 94 |  |  | $ | 164 |
Interest on lease liabilities | 8 |  |  | 9 |  |  | 24 |  |  | 31 |
Total finance lease cost | $ | 40 |  |  | $ | 39 |  |  | $ | 118 |  |  | $ | 195 |
Supplemental cash flow information related to leases is as follows:
| Nine Months Ended September 30, |  |
Cash paid for amounts included in the measurement of lease liabilities: | 2025 |  | 2024 |  |
Operating cash flows from operating leases | $ | 17,158 |  |  | $ | 16,170 |  |  |
Operating cash flows from finance leases | $ | 24 |  |  | $ | 31 |  |  |
Financing cash flows from finance leases | $ | 94 |  |  | $ | 164 |  |  |
Right-of-use assets obtained in exchange for lease obligations (non-cash): |  |  |  |  |
Operating leases | $ | 3,500 |  |  | $ | 12,182 |  |  |
Finance leases | $ | — |  |  | $ | — |  |  |
Supplemental balance sheet information related to leases is as follows:
Operating Leases | September 30, 2025 |  | December 31, 2024
Operating lease right-of-use assets | $ | 64,232 |  |  | $ | 52,668 |
Current portion of long-term lease obligations | $ | 20,980 |  |  | $ | 20,498 |
Long-term lease obligations | 43,588 |  |  | 32,455 |
Total operating lease liabilities | $ | 64,568 |  |  | $ | 52,953 |
Finance Leases |  |  |
Property and equipment, at cost | $ | 1,428 |  |  | $ | 2,011 |
Accumulated depreciation | (1,067) |  |  | (1,445) |
Property and equipment, net | $ | 361 |  |  | $ | 566 |
Current maturities of long-term debt | $ | 134 |  |  | $ | 127 |
Long-term debt | 270 |  |  | 372 |
Total finance lease liabilities | $ | 404 |  |  | $ | 499 |
Weighted Average Remaining Lease Term |  |  |
Operating leases | 4.9 |  | 4.3
Finance leases | 2.8 |  | 3.6
Weighted Average Discount Rate |  |  |
Operating leases | 6.0 | % |  | 6.0 | %
Finance leases | 6.9 | % |  | 6.9 | %
Maturities of lease liabilities are as follows:
Year Ending December 31, | Operating Leases |  | Finance Leases
2025 (excluding the nine months ended September 30, 2025) | $ | 6,569 |  |  | $ | 39 |
2026 | 21,246 |  |  | 158 |
2027 | 11,770 |  |  | 157 |
2028 | 8,892 |  |  | 92 |
2029 | 7,650 |  |  | — |
2030 | 8,930 |  |  | — |
Thereafter | 10,561 |  |  | — |
Total lease payments | $ | 75,618 |  |  | $ | 446 |
Less imputed interest | (11,050) |  |  | (42) |
Total | $ | 64,568 |  |  | $ | 404 |
LEASE OBLIGATIONS |
10. | LEASE OBLIGATIONS
The Company has operating and finance leases primarily for construction and transportation equipment, as well as office space. The Company’s leases have remaining lease terms of one month to ten years, some of which include options to extend the leases for up to ten years. The components of lease expense are as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Operating lease cost | $ | 5,406 |  |  | $ | 5,639 |  |  | $ | 16,935 |  |  | $ | 17,014 |
Short-term lease cost | $ | 7,902 |  |  | $ | 8,380 |  |  | $ | 20,694 |  |  | $ | 19,282 |
Finance lease cost: |  |  |  |  |  |  |
Amortization of right-of-use assets | $ | 32 |  |  | $ | 30 |  |  | $ | 94 |  |  | $ | 164 |
Interest on lease liabilities | 8 |  |  | 9 |  |  | 24 |  |  | 31 |
Total finance lease cost | $ | 40 |  |  | $ | 39 |  |  | $ | 118 |  |  | $ | 195 |
Supplemental cash flow information related to leases is as follows:
| Nine Months Ended September 30, |  |
Cash paid for amounts included in the measurement of lease liabilities: | 2025 |  | 2024 |  |
Operating cash flows from operating leases | $ | 17,158 |  |  | $ | 16,170 |  |  |
Operating cash flows from finance leases | $ | 24 |  |  | $ | 31 |  |  |
Financing cash flows from finance leases | $ | 94 |  |  | $ | 164 |  |  |
Right-of-use assets obtained in exchange for lease obligations (non-cash): |  |  |  |  |
Operating leases | $ | 3,500 |  |  | $ | 12,182 |  |  |
Finance leases | $ | — |  |  | $ | — |  |  |
Supplemental balance sheet information related to leases is as follows:
Operating Leases | September 30, 2025 |  | December 31, 2024
Operating lease right-of-use assets | $ | 64,232 |  |  | $ | 52,668 |
Current portion of long-term lease obligations | $ | 20,980 |  |  | $ | 20,498 |
Long-term lease obligations | 43,588 |  |  | 32,455 |
Total operating lease liabilities | $ | 64,568 |  |  | $ | 52,953 |
Finance Leases |  |  |
Property and equipment, at cost | $ | 1,428 |  |  | $ | 2,011 |
Accumulated depreciation | (1,067) |  |  | (1,445) |
Property and equipment, net | $ | 361 |  |  | $ | 566 |
Current maturities of long-term debt | $ | 134 |  |  | $ | 127 |
Long-term debt | 270 |  |  | 372 |
Total finance lease liabilities | $ | 404 |  |  | $ | 499 |
Weighted Average Remaining Lease Term |  |  |
Operating leases | 4.9 |  | 4.3
Finance leases | 2.8 |  | 3.6
Weighted Average Discount Rate |  |  |
Operating leases | 6.0 | % |  | 6.0 | %
Finance leases | 6.9 | % |  | 6.9 | %
Maturities of lease liabilities are as follows:
Year Ending December 31, | Operating Leases |  | Finance Leases
2025 (excluding the nine months ended September 30, 2025) | $ | 6,569 |  |  | $ | 39 |
2026 | 21,246 |  |  | 158 |
2027 | 11,770 |  |  | 157 |
2028 | 8,892 |  |  | 92 |
2029 | 7,650 |  |  | — |
2030 | 8,930 |  |  | — |
Thereafter | 10,561 |  |  | — |
Total lease payments | $ | 75,618 |  |  | $ | 446 |
Less imputed interest | (11,050) |  |  | (42) |
Total | $ | 64,568 |  |  | $ | 404 |

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 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 + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
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