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LEASES | 6 Months Ended
--- | ---
Jun. 30, 2025
Leases [Abstract] |
LEASES | LEASES Right-of-Use Assets and Operating Lease Liabilities Amounts reported in the condensed consolidated balance sheets were:
| June 30, 2025 |  | December 31, 2024
| (in thousands)
Assets: |  |  |
Right-of-use assets | $ | 349,268 |  |  | $ | 307,228 |
Liabilities: |  |  |
Current operating lease liabilities | $ | 82,918 |  |  | $ | 68,551 |
Long-term operating lease liabilities | 311,549 |  |  | 283,406 |
Total operating lease liabilities | $ | 394,467 |  |  | $ | 351,957 |
Lease Costs and Other Information Lease-related costs reported within ‘Cost of sales’ and ‘Selling, general and administrative expenses’ in our condensed consolidated statements of operations were:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in thousands)
Operating lease cost | $ | 25,552 |  |  | $ | 20,409 |  |  | $ | 49,738 |  |  | $ | 40,654 |
Short-term lease cost | 3,432 |  |  | 5,214 |  |  | 6,392 |  |  | 10,013 |
Variable lease cost | 15,894 |  |  | 15,944 |  |  | 21,483 |  |  | 23,307 |
Total lease costs | $ | 44,878 |  |  | $ | 41,567 |  |  | $ | 77,613 |  |  | $ | 73,974 |
The weighted average remaining lease term and discount rate related to our lease liabilities as of June 30, 2025, was 5.8 years and 6.6%, respectively. As of June 30, 2024, the weighted average remaining lease term and discount rate related to our lease liabilities was 6.6 years and 6.3%, respectively. During the six months ended June 30, 2024, we impaired our right-of-use assets for our former HEYDUDE Brand warehouses in Las Vegas, Nevada and our former Crocs Brand warehouse in Oudenbosch, the Netherlands, as described in Note 6 — Fair Value Measurements. Maturities The maturities of our operating lease liabilities were:
| As of June 30, 2025
| (in thousands)
2025 (remainder of year) | $ | 44,608 |
2026 | 98,519 |
2027 | 82,940 |
2028 | 67,301 |
2029 | 54,949 |
Thereafter | 129,500 |
Total future minimum lease payments | 477,817 |
Less: imputed interest | (83,350) |
Total operating lease liabilities | $ | 394,467 |

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- 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
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