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Leased Assets and Liabilities | 12 Months Ended
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Dec. 31, 2025
Leases [Abstract] |
Leased Assets and Liabilities | Leased Assets and Liabilities We lease real estate, equipment and vehicles under operating and finance lease agreements. Our leases have terms of up to 10 years, and may include renewal options. At lease commencement, a lease liability and corresponding right-of-use asset is recognized. Lease liabilities represent the present value of future lease payments over the expected lease term, including options to extend or terminate the lease when it is reasonably certain those options will be exercised. Lease payments include all fixed payments and variable payments tied to an index, but exclude costs such as common area maintenance charges, property taxes, insurance and mileage. The present value of the lease liability is determined using our incremental borrowing rate at lease commencement. Information regarding operating and financing leases is as follows:
Leases |  | Balance Sheet Location |  | December 31, 2025 |  | December 31, 2024
Assets |  |  |  |  |  |
Operating |  | Operating lease assets |  | $ | 106,996 |  |  | $ | 113,357 |
Finance |  | Property, plant and equipment, net |  | 35,490 |  |  | 31,271 |
Total leased assets |  |  |  | $ | 142,486 |  |  | $ | 144,628 |
Liabilities |  |  |  |  |  |
Operating |  | Current operating lease liabilities |  | $ | 28,396 |  |  | $ | 26,912 |
|  | Noncurrent operating lease liabilities |  | 99,757 |  |  | 100,804 |
Finance |  | Accounts payable and accrued liabilities |  | 10,585 |  |  | 8,938 |
|  | Other noncurrent liabilities |  | 26,356 |  |  | 23,655 |
Total lease liabilities |  |  |  | $ | 165,094 |  |  | $ | 160,309 |
| Years Ended December 31,
Lease Cost | 2025 |  | 2024 |  | 2023
Operating lease expense | $ | 42,457 |  |  | $ | 37,640 |  |  | $ | 46,316 |
Finance lease expense |  |  |  |  |
Amortization of leased assets | 9,702 |  |  | 8,709 |  |  | 6,554 |
Interest on lease liabilities | 2,525 |  |  | 1,970 |  |  | 1,750 |
Variable lease expense | 5,589 |  |  | 8,888 |  |  | 8,337 |
Sublease income | (433) |  |  | (335) |  |  | (466) |
Total expense | $ | 59,840 |  |  | $ | 56,872 |  |  | $ | 62,491 |
Operating lease expense includes immaterial amounts related to leases with terms of 12 months or less.
Future Lease Payments | Operating Leases |  | Finance Leases |  | Total
2026 | $ | 37,976 |  |  | $ | 12,707 |  |  | $ | 50,683 |
2027 | 34,807 |  |  | 10,399 |  |  | 45,206 |
2028 | 29,980 |  |  | 8,778 |  |  | 38,758 |
2029 | 22,964 |  |  | 4,618 |  |  | 27,582 |
2030 | 15,307 |  |  | 2,875 |  |  | 18,182 |
Thereafter | 11,678 |  |  | 2,949 |  |  | 14,627 |
Total | 152,712 |  |  | 42,326 |  |  | 195,038 |
Less: present value discount | 24,559 |  |  | 5,385 |  |  | 29,944 |
Lease liability | $ | 128,153 |  |  | $ | 36,941 |  |  | $ | 165,094 |
Future lease payments exclude $5 million of payments for leases signed but not yet commenced at December 31, 2025.
Lease Term and Discount Rate | December 31, 2025 |  | December 31, 2024
Weighted-average remaining lease term |  |  |
Operating leases | 4.3 years |  | 5.1 years
Finance leases | 4.1 years |  | 3.9 years
Weighted-average discount rate |  |  |
Operating leases | 8.2% |  | 9.3%
Finance leases | 7.2% |  | 8.6%
| Years Ended December 31,
Cash Flow Information | 2025 |  | 2024 |  | 2023
Operating cash outflows - operating leases | $ | 37,583 |  |  | $ | 40,775 |  |  | $ | 40,597 |
Operating cash outflows - finance leases | $ | 2,525 |  |  | $ | 1,970 |  |  | $ | 1,750 |
Financing cash outflows - finance leases | $ | 9,172 |  |  | $ | 5,310 |  |  | $ | 5,442 |
Leased assets obtained in exchange for new lease obligations |  |  |  |  |
Operating leases | $ | 25,590 |  |  | $ | 11,765 |  |  | $ | 37,204 |
Finance leases | $ | 12,493 |  |  | $ | 12,433 |  |  | $ | 5,509 |
Leased Assets and Liabilities | Leased Assets and Liabilities We lease real estate, equipment and vehicles under operating and finance lease agreements. Our leases have terms of up to 10 years, and may include renewal options. At lease commencement, a lease liability and corresponding right-of-use asset is recognized. Lease liabilities represent the present value of future lease payments over the expected lease term, including options to extend or terminate the lease when it is reasonably certain those options will be exercised. Lease payments include all fixed payments and variable payments tied to an index, but exclude costs such as common area maintenance charges, property taxes, insurance and mileage. The present value of the lease liability is determined using our incremental borrowing rate at lease commencement. Information regarding operating and financing leases is as follows:
Leases |  | Balance Sheet Location |  | December 31, 2025 |  | December 31, 2024
Assets |  |  |  |  |  |
Operating |  | Operating lease assets |  | $ | 106,996 |  |  | $ | 113,357 |
Finance |  | Property, plant and equipment, net |  | 35,490 |  |  | 31,271 |
Total leased assets |  |  |  | $ | 142,486 |  |  | $ | 144,628 |
Liabilities |  |  |  |  |  |
Operating |  | Current operating lease liabilities |  | $ | 28,396 |  |  | $ | 26,912 |
|  | Noncurrent operating lease liabilities |  | 99,757 |  |  | 100,804 |
Finance |  | Accounts payable and accrued liabilities |  | 10,585 |  |  | 8,938 |
|  | Other noncurrent liabilities |  | 26,356 |  |  | 23,655 |
Total lease liabilities |  |  |  | $ | 165,094 |  |  | $ | 160,309 |
| Years Ended December 31,
Lease Cost | 2025 |  | 2024 |  | 2023
Operating lease expense | $ | 42,457 |  |  | $ | 37,640 |  |  | $ | 46,316 |
Finance lease expense |  |  |  |  |
Amortization of leased assets | 9,702 |  |  | 8,709 |  |  | 6,554 |
Interest on lease liabilities | 2,525 |  |  | 1,970 |  |  | 1,750 |
Variable lease expense | 5,589 |  |  | 8,888 |  |  | 8,337 |
Sublease income | (433) |  |  | (335) |  |  | (466) |
Total expense | $ | 59,840 |  |  | $ | 56,872 |  |  | $ | 62,491 |
Operating lease expense includes immaterial amounts related to leases with terms of 12 months or less.
Future Lease Payments | Operating Leases |  | Finance Leases |  | Total
2026 | $ | 37,976 |  |  | $ | 12,707 |  |  | $ | 50,683 |
2027 | 34,807 |  |  | 10,399 |  |  | 45,206 |
2028 | 29,980 |  |  | 8,778 |  |  | 38,758 |
2029 | 22,964 |  |  | 4,618 |  |  | 27,582 |
2030 | 15,307 |  |  | 2,875 |  |  | 18,182 |
Thereafter | 11,678 |  |  | 2,949 |  |  | 14,627 |
Total | 152,712 |  |  | 42,326 |  |  | 195,038 |
Less: present value discount | 24,559 |  |  | 5,385 |  |  | 29,944 |
Lease liability | $ | 128,153 |  |  | $ | 36,941 |  |  | $ | 165,094 |
Future lease payments exclude $5 million of payments for leases signed but not yet commenced at December 31, 2025.
Lease Term and Discount Rate | December 31, 2025 |  | December 31, 2024
Weighted-average remaining lease term |  |  |
Operating leases | 4.3 years |  | 5.1 years
Finance leases | 4.1 years |  | 3.9 years
Weighted-average discount rate |  |  |
Operating leases | 8.2% |  | 9.3%
Finance leases | 7.2% |  | 8.6%
| Years Ended December 31,
Cash Flow Information | 2025 |  | 2024 |  | 2023
Operating cash outflows - operating leases | $ | 37,583 |  |  | $ | 40,775 |  |  | $ | 40,597 |
Operating cash outflows - finance leases | $ | 2,525 |  |  | $ | 1,970 |  |  | $ | 1,750 |
Financing cash outflows - finance leases | $ | 9,172 |  |  | $ | 5,310 |  |  | $ | 5,442 |
Leased assets obtained in exchange for new lease obligations |  |  |  |  |
Operating leases | $ | 25,590 |  |  | $ | 11,765 |  |  | $ | 37,204 |
Finance leases | $ | 12,493 |  |  | $ | 12,433 |  |  | $ | 5,509 |

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- 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
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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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