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Leases (Tables)

3 Months Ended

Mar. 31, 2025

Leases [Abstract]

Schedule of Assets and Liabilities, Lessee

The following table provides information on the amounts (in thousands) of our right-of-use assets (“ROU assets”) and liabilities, weighted-average remaining lease term, and weighted average discount rate as of March 31, 2025, and December 31, 2024, and their placement within our condensed consolidated balance sheets:

Lease type						Balance Sheet Location						March 31, 2025						December 31, 2024
Assets
Finance						Property, plant, and equipment						$	31,127					$	30,655
Finance						Accumulated amortization						(15,230)						(14,543)
Finance						Property, plant, and equipment, net						15,897						16,112
Operating						Operating lease right-of-use (“ROU”) assets						450,802						428,120
Total right-of-use assets												$	466,699					$	444,232
Liabilities
Current
Finance						Other accrued liabilities						$	2,363					$	2,252
Operating						Operating lease liabilities						88,339						80,174
Long-term
Finance						Finance lease liabilities						11,404						11,690
Operating						Operating lease liabilities						378,276						362,092
Total lease liabilities												$	480,382					$	456,208
Weighted-average remaining lease term (in years)
Finance												10.35						10.26
Operating												6.87						7.17
Weighted-average discount rate
Finance												7.01		%				6.97		%
Operating												7.77		%				7.76		%

Schedule of Lease, Cost

The following table summarizes the lease costs and income recognized in our condensed consolidated statements of operations (in thousands):

												Three Months Ended March 31,
Lease cost (income) type												2025						2024
Finance lease cost
Amortization of finance lease ROU assets												$	685					$	544
Interest on lease liabilities												238						244
Operating lease cost												31,589						25,817
Variable lease cost												3,008						1,962
Short-term lease cost												2,269						2,058
Net lease cost												$	37,789					$	30,625
Operating lease income (1)												$	(574)					$	(3,865)

_________________________________________________________

(1)The majority of our lessor income comes from leases with lease terms of one year or less and the estimated future undiscounted cash flows from lessor income are not expected to be material.

The following table summarizes the supplemental cash flow information related to leases as follows (in thousands):

												Three Months Ended March 31,
Lease type												2025						2024
Cash paid for amounts included in the measurement of liabilities
Financing cash flows from finance leases												$	528					$	474
Operating cash flows from finance leases												238						234
Operating cash flows from operating leases												29,395						24,412
Non-cash supplemental amounts
ROU assets obtained in exchange for new finance lease liabilities												466						1,544
ROU assets obtained in exchange for new operating lease liabilities												45,167						18,756
ROU assets terminated in exchange for release from operating lease liabilities												—						4,177

Schedule of Lessee, Operating Lease, Liability, Maturity

The table below includes the estimated future undiscounted cash flows for finance and operating leases as of March 31, 2025 (in thousands):

For the year ending December 31,						Finance leases						Operating leases						Total
2025 (1)						$	2,282					$	89,541					$	91,823
2026						2,772						124,160						126,932
2027						2,607						115,104						117,711
2028						1,703						99,993						101,696
2029						1,293						22,780						24,073
2030						785						16,619						17,404
Thereafter						7,872						110,313						118,185
Total lease payments						19,314						578,510						597,824
Less amount representing interest						(5,767)						(111,675)						(117,442)
Present value of lease liabilities						$	13,547					$	466,835					$	480,382

_________________________________________________________

(1)Represents the period from April 1, 2025, to December 31, 2025.

Schedule of Finance Lease, Liability, Maturity

The table below includes the estimated future undiscounted cash flows for finance and operating leases as of March 31, 2025 (in thousands):

For the year ending December 31,						Finance leases						Operating leases						Total
2025 (1)						$	2,282					$	89,541					$	91,823
2026						2,772						124,160						126,932
2027						2,607						115,104						117,711
2028						1,703						99,993						101,696
2029						1,293						22,780						24,073
2030						785						16,619						17,404
Thereafter						7,872						110,313						118,185
Total lease payments						19,314						578,510						597,824
Less amount representing interest						(5,767)						(111,675)						(117,442)
Present value of lease liabilities						$	13,547					$	466,835					$	480,382

_________________________________________________________

(1)Represents the period from April 1, 2025, to December 31, 2025.

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Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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