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Leases (Tables)
9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
Schedule of Components of Lease Expense
The following table presents components of lease expense for the three and nine months ended September 30, 2025 and 2024:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in thousands)2025202420252024
Operating lease expense$3,290 $3,471 $10,011 $9,993 
Short-term lease expense(a)
15,047 16,682 43,109 42,550 
18,337 20,153 53,120 52,543 
Less: Sublease income296 202 887 604 
Total lease expense$18,041 $19,951 $52,233 $51,939 
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(a)Short-term lease expense includes all leases with lease terms of up to one year. Short-term leases include, among other things, construction equipment rented on an as-needed basis as well as temporary housing.
Schedule of Supplemental Balance Sheet Information Related to Leases and Supplemental Cash Flow and Other Information Related to Leases
The following table presents supplemental balance sheet information related to operating leases:
(dollars in thousands)Balance Sheet Line ItemAs of September 30,
2025
As of December 31,
2024
Assets
Right-of-use assetsOther assets$55,190 $41,695 
Total lease assets$55,190 $41,695 
Liabilities
Current lease liabilitiesAccrued expenses and other current liabilities$11,042 $7,066 
Long-term lease liabilitiesOther long-term liabilities48,903 38,630 
Total lease liabilities$59,945 $45,696 
Weighted-average remaining lease term6.6 years8.0 years
Weighted-average discount rate8.94 %9.73 %
The following table presents supplemental cash flow information and non-cash activity related to operating leases:
Nine Months Ended
September 30,
(in thousands)20252024
Operating cash flow information:
Cash paid for amounts included in the measurement of lease liabilities$(10,159)$(9,663)
Non-cash activity:
Right-of-use assets obtained in exchange for lease liabilities$20,754 $7,772 
Schedule of Maturity of Operating Lease Liabilities on an Undiscounted Basis
The following table presents maturities of operating lease liabilities on an undiscounted basis as of September 30, 2025:
Year (in thousands)
Operating Leases
2025 (excluding the nine months ended September 30, 2025)
$4,129 
202615,168 
202713,441 
202812,031 
20299,568 
Thereafter26,781 
Total lease payments81,118 
Less: Imputed interest21,173 
Total$59,945