XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.26.1

Leases | 6 Months Ended
--- | ---
Jun. 30, 2026
Leases [Abstract] |
Leases | Leases Operating leases and financing leases Supplemental balance sheet information related to our operating and financing right of use (“ROU”) assets and lease liabilities is as follows (in millions):
| Balance Sheet Location |  | June 30, 2026 |  | December 31, 2025
Assets |  |  |  |  |
Operating lease ROU assets, net | Operating lease ROU assets, net |  | $ | 161.0 |  |  | $ | 173.5 |
Financing lease ROU assets, net | Other assets, net |  | $ | 22.6 |  |  | $ | 0.7 |
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating lease liabilities, short-term | Operating lease liabilities, short-term |  | $ | 23.1 |  |  | $ | 22.9 |
Financing lease liabilities, short-term | Other current liabilities |  | $ | 1.7 |  |  | $ | 0.3 |
Non-current |  |  |  |  |
Operating lease liabilities, long-term | Operating lease liabilities, long-term |  | $ | 176.5 |  |  | $ | 189.7 |
Financing lease liabilities, long-term | Other long-term liabilities |  | $ | 21.3 |  |  | $ | 0.5 |
Lease Termination Incentive During the first quarter of 2025, we signed an agreement with the landlord of our Japanese subsidiary’s headquarters to terminate a lease prior to its original end date in exchange for a cash incentive of 1,800.0 million Yen (approximately $12.0 million). As a result, we recognized a $12.0 million gain on lease termination, which was recorded within selling, general and administrative expenses in our condensed consolidated statement of operations. The components of lease expense, excluding the impact from the lease termination incentive, included in our condensed consolidated statement of operations for the periods presented below are as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
2026 |  | 2025 |  | 2026 |  | 2025
Operating lease costs | $ | 8.7 |  |  | $ | 8.6 |  |  | $ | 17.7 |  |  | $ | 16.7 |
Financing lease costs: |  |  |  |  |  |  |
Amortization of ROU assets | 1.0 |  |  | — |  |  | 1.1 |  |  | 0.1 |
Interest on lease liabilities | 0.7 |  |  | — |  |  | 0.7 |  |  | — |
Total financing lease costs | 1.7 |  |  | — |  |  | 1.8 |  |  | 0.1 |
Variable lease costs | 0.3 |  |  | 0.3 |  |  | 0.7 |  |  | 0.6 |
Total lease costs | $ | 10.7 |  |  | $ | 8.9 |  |  | $ | 20.2 |  |  | $ | 17.4 |
Other information related to leases (in millions):
|  | Six Months Ended June 30,
Supplemental Cash Flows Information |  | 2026 |  | 2025
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from operating leases |  | $ | 18.3 |  |  | $ | 15.7 |
Operating cash flows from finance leases |  | $ | 0.7 |  |  | $ | — |
Financing cash flows from finance leases |  | $ | 0.7 |  |  | $ | 0.1 |
Lease liabilities arising from new ROU assets: |  |  |  |
Operating leases |  | $ | 8.6 |  |  | $ | 25.2 |
Financing leases |  | $ | 22.9 |  |  | $ | 0.2 |
| June 30, 2026 |  | December 31, 2025
Weighted-average remaining lease term (years): |  |  |
Operating leases | 8.8 |  | 9.4
Financing leases | 9.3 |  | 3.4
Weighted-average discount rate: |  |  |
Operating leases | 6.8 | % |  | 6.8 | %
Financing leases | 7.2 | % |  | 7.1 | %
As of June 30, 2026, our future minimum lease obligations were as follows (in millions):
| Operating Leases |  | Financing Leases |  | Total
Remainder of 2026 | $ | 17.8 |  |  | $ | 1.7 |  |  | $ | 19.5 |
2027 | 34.7 |  |  | 3.3 |  |  | 38.0 |
2028 | 33.2 |  |  | 3.3 |  |  | 36.5 |
2029 | 32.2 |  |  | 3.3 |  |  | 35.5 |
2030 | 27.8 |  |  | 3.3 |  |  | 31.1 |
Thereafter | 128.9 |  |  | 16.9 |  |  | 145.8 |
Total future lease payments | 274.6 |  |  | 31.8 |  |  | 306.4 |
Less: imputed interest | 75.0 |  |  | 8.8 |  |  | 83.8 |
Total | $ | 199.6 |  |  | $ | 23.0 |  |  | $ | 222.6 |
Leases | Leases Operating leases and financing leases Supplemental balance sheet information related to our operating and financing right of use (“ROU”) assets and lease liabilities is as follows (in millions):
| Balance Sheet Location |  | June 30, 2026 |  | December 31, 2025
Assets |  |  |  |  |
Operating lease ROU assets, net | Operating lease ROU assets, net |  | $ | 161.0 |  |  | $ | 173.5 |
Financing lease ROU assets, net | Other assets, net |  | $ | 22.6 |  |  | $ | 0.7 |
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating lease liabilities, short-term | Operating lease liabilities, short-term |  | $ | 23.1 |  |  | $ | 22.9 |
Financing lease liabilities, short-term | Other current liabilities |  | $ | 1.7 |  |  | $ | 0.3 |
Non-current |  |  |  |  |
Operating lease liabilities, long-term | Operating lease liabilities, long-term |  | $ | 176.5 |  |  | $ | 189.7 |
Financing lease liabilities, long-term | Other long-term liabilities |  | $ | 21.3 |  |  | $ | 0.5 |
Lease Termination Incentive During the first quarter of 2025, we signed an agreement with the landlord of our Japanese subsidiary’s headquarters to terminate a lease prior to its original end date in exchange for a cash incentive of 1,800.0 million Yen (approximately $12.0 million). As a result, we recognized a $12.0 million gain on lease termination, which was recorded within selling, general and administrative expenses in our condensed consolidated statement of operations. The components of lease expense, excluding the impact from the lease termination incentive, included in our condensed consolidated statement of operations for the periods presented below are as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
2026 |  | 2025 |  | 2026 |  | 2025
Operating lease costs | $ | 8.7 |  |  | $ | 8.6 |  |  | $ | 17.7 |  |  | $ | 16.7 |
Financing lease costs: |  |  |  |  |  |  |
Amortization of ROU assets | 1.0 |  |  | — |  |  | 1.1 |  |  | 0.1 |
Interest on lease liabilities | 0.7 |  |  | — |  |  | 0.7 |  |  | — |
Total financing lease costs | 1.7 |  |  | — |  |  | 1.8 |  |  | 0.1 |
Variable lease costs | 0.3 |  |  | 0.3 |  |  | 0.7 |  |  | 0.6 |
Total lease costs | $ | 10.7 |  |  | $ | 8.9 |  |  | $ | 20.2 |  |  | $ | 17.4 |
Other information related to leases (in millions):
|  | Six Months Ended June 30,
Supplemental Cash Flows Information |  | 2026 |  | 2025
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from operating leases |  | $ | 18.3 |  |  | $ | 15.7 |
Operating cash flows from finance leases |  | $ | 0.7 |  |  | $ | — |
Financing cash flows from finance leases |  | $ | 0.7 |  |  | $ | 0.1 |
Lease liabilities arising from new ROU assets: |  |  |  |
Operating leases |  | $ | 8.6 |  |  | $ | 25.2 |
Financing leases |  | $ | 22.9 |  |  | $ | 0.2 |
| June 30, 2026 |  | December 31, 2025
Weighted-average remaining lease term (years): |  |  |
Operating leases | 8.8 |  | 9.4
Financing leases | 9.3 |  | 3.4
Weighted-average discount rate: |  |  |
Operating leases | 6.8 | % |  | 6.8 | %
Financing leases | 7.2 | % |  | 7.1 | %
As of June 30, 2026, our future minimum lease obligations were as follows (in millions):
| Operating Leases |  | Financing Leases |  | Total
Remainder of 2026 | $ | 17.8 |  |  | $ | 1.7 |  |  | $ | 19.5 |
2027 | 34.7 |  |  | 3.3 |  |  | 38.0 |
2028 | 33.2 |  |  | 3.3 |  |  | 36.5 |
2029 | 32.2 |  |  | 3.3 |  |  | 35.5 |
2030 | 27.8 |  |  | 3.3 |  |  | 31.1 |
Thereafter | 128.9 |  |  | 16.9 |  |  | 145.8 |
Total future lease payments | 274.6 |  |  | 31.8 |  |  | 306.4 |
Less: imputed interest | 75.0 |  |  | 8.8 |  |  | 83.8 |
Total | $ | 199.6 |  |  | $ | 23.0 |  |  | $ | 222.6 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration