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Note 4 - Leases

9 Months Ended

Sep. 30, 2025

4. Leases

Amounts reported on the Company’s Unaudited Condensed Consolidated Balance Sheets for operating leases were as follows:

	*September 30, 2025*		*December 31, 2024*
	(Amounts in Thousands)
Operating lease assets, net	$	44,879	$	47,348

Short-term operating lease liabilities		13,031		12,800
Long-term operating lease liabilities		38,814		41,883
Total operating lease liabilities	$	51,845	$	54,683

Lease Costs

Components of lease costs were reported in general and administrative expenses in the Company’s Unaudited Condensed Consolidated Statements of Income as follows:

	*For the Three Months Ended September 30,*					*For the Nine Months Ended September 30,*
	(Amounts in Thousands)					(Amounts in Thousands)
	*2025*		*2024*			*2025*			*2024*
Operating lease costs	$	3,623	$	3,393		$	10,931		$	10,062
Short-term lease costs		292		167			847			547
Total lease costs		3,915		3,560			11,778			10,609
Less: sublease income		—		(596	)		(226	)		(1,685	)
Total lease costs, net	$	3,915	$	2,964		$	11,552		$	8,924

Lease Term and Discount Rate

Weighted average remaining lease terms and discount rates were as follows:

	*September 30, 2025*			*December 31, 2024*
Operating leases:
Weighted average remaining lease term		5.22			5.48
Weighted average discount rate		6.37	%		6.20	%

Maturity of Lease Liabilities

Remaining operating lease payments as of September 30, 2025 were as follows:

	*Operating Leases*
	(Amounts in Thousands)
Due in the 12-month period ended September 30,
2026	$	15,759
2027		12,614
2028		9,143
2029		6,946
2030		6,016
Thereafter		11,064
Total future minimum rental commitments		61,542
Less: Imputed interest		(9,697	)
Total lease liabilities	$	51,845

Supplemental Cash Flows Information

	*For the Nine Months Ended September 30,*
	(Amounts in Thousands)
	*2025*		*2024*
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	12,505	$	10,925

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	7,156	$	7,683