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LEASES | 12 Months Ended
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Dec. 31, 2024
LEASES |
LEASES | ​ NOTE G – LEASES ​ The Company has operating lease arrangements for certain facilities and revenue equipment used in the Asset-Based and Asset-Light segment operations and certain other facilities and office equipment. Current operating leases have remaining terms of 11.5 years or less, some of which include one or more options to renew, with renewal option terms up to ten years. There is one early termination option available on an operating lease as of December 31, 2024, provided notification is given 24 months prior to the end of the lease term, which is included in the right-of-use assets and liabilities as of December 31, 2024. ​ The components of operating lease expense for the years ended December 31 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022
​ | ​ | (in thousands)
Operating lease expense | ​ | $ | 42,772 | ​ | $ | 38,794 | ​ | $ | 31,790
Variable lease expense | ​ | ​ | 7,183 | ​ | ​ | 6,804 | ​ | ​ | 4,188
Sublease income | ​ | ​ | (2,631) | ​ | ​ | (246) | ​ | ​ | (391)
Total operating lease expense | ​ | $ | 47,324 | ​ | $ | 45,352 | ​ | $ | 35,587
​ The operating cash flows from operating lease activity for the years ended December 31 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022 |
​ | ​ | (in thousands) | ​
Noncash change in operating right-of-use assets | ​ | $ | 34,445 | ​ | $ | 33,470 | ​ | $ | 27,465 | ​
Cash payments to obtain right-of-use assets | ​ | ​ | (7,752) | ​ | ​ | — | ​ | ​ | — | ​
Change in operating lease liabilities | ​ | ​ | (33,898) | ​ | ​ | (30,550) | ​ | ​ | (24,513) | ​
Changes in operating right-of-use assets and lease liabilities, net | ​ | $ | (7,205) | ​ | $ | 2,920 | ​ | $ | 2,952 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Supplemental cash flow information | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of operating lease liabilities | ​ | $ | 42,173 | ​ | $ | 35,759 | ​ | $ | 28,830 | ​
Right-of-use assets obtained in exchange for operating lease liabilities | ​ | $ | 49,452 | ​ | $ | 62,425 | ​ | $ | 87,294 | ​
​ The weighted-average remaining lease term for our outstanding operating lease obligations was 7.4 years as of both December 31, 2024 and 2023. As of December 31, 2024 and 2023, the weighted-average discount rate was 4.59% and 4.29%, respectively. Maturities of operating lease liabilities at December 31, 2024 were as follows: ​
​ | ​ | ​ | ​ | ​
​ | ​ | Operating | ​
​ | ​ | Lease | ​
​ |  | Liabilities |
​ |  | (in thousands) | ​
2025 | ​ | $ | 43,660 | ​
2026 | ​ |  | 40,800 | ​
2027 | ​ |  | 33,992 | ​
2028 | ​ |  | 30,325 | ​
2029 | ​ |  | 25,307 | ​
Thereafter | ​ |  | 93,557 | ​
Total lease payments | ​ | ​ | 267,641 | ​
Less imputed interest | ​ | ​ | (43,299) | ​
Total | ​ | $ | 224,342 | ​
​ ​ Lease Impairment Charges ​ In 2023, lease impairment charges totaling $30.2 million were recognized as a component of operating expenses for impairment of certain long-lived operating right-of-use assets that were made available for sublease and continued to be classified as held and used. The fair value measurements related to the impairment are further discussed in Note C.

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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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