XML 24 R14.htm IDEA: XBRL DOCUMENT v3.26.1

Leases

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

Leases

Note 7 – Leases

The Company leases property used for warehousing, distribution centers, office space, branch locations, equipment and vehicles. The components of lease cost were as follows (in thousands):

												Three Months Ended March 31,
Lease Type						Classification						2026						2025
Operating lease expense(1)						Operating expenses						$	7,323					$	6,827
Financing lease amortization						Operating expenses						138						150
Financing lease interest						Interest expense						23						26
Financing lease expense												161						176
Sublease income(2)												(193)						(159)
Net lease cost												$	7,291					$	6,844

(1)    Includes short-term lease expense, which is immaterial.

(2)    The Company subleases excess property to third-party tenants. Sublease income is recognized on a straight-line basis over the sublease agreement and is recorded as an offset to operating lease expense.

The value of net assets and liabilities related to our operating and finance leases as of March 31, 2026 and December 31, 2025 was as follows (in thousands):

Lease Type						March 31, 2026						December 31, 2025
Total right of use operating lease assets						$	108,938					$	111,117
Total right of use financing lease assets						1,519						1,573
Total lease assets						$	110,457					$	112,690
Total current operating lease obligation						$	20,329					$	20,030
Total current financing lease obligation						584						594
Total current lease obligation						$	20,913					$	20,624
Total long-term operating lease obligation						$	95,698					$	98,022
Total long-term financing lease obligation						714						799
Total long-term lease obligation						$	96,412					$	98,821

The value of lease liabilities related to our operating and finance leases and sublease income as of March 31, 2026 was as follows (in thousands):

Maturity Date of Lease Liabilities						Operating Leases						Financing Leases						Total						Sublease Income
Remaining 2026						$	20,731					$	501					$	21,232					$	451
2027						26,689						435						27,124						168
2028						24,058						297						24,355						74
2029						20,363						135						20,498						44
2030						13,722						55						13,777						30
Thereafter						42,431						1						42,432						—
Total lease payments						147,994						1,424						149,418						767
Less: Interest						(31,967)						(126)						(32,093)						—
Present value of lease liabilities						$	116,027					$	1,298					$	117,325					$	767

The weighted average lease terms and interest rates of leases held as of March 31, 2026 and December 31, 2025 were as follows:

March 31, 2026

December 31, 2025

Operating Leases

Finance Leases

Operating Leases

Finance Leases

Weighted average remaining lease term

6.4 years

3.1 years

6.0 years

3.2 years

Weighted average interest rate

7.4%

7.0%

7.5%

7.1%

The cash outflows of leasing activity for the three months ended March 31, 2026 and 2025 were as follows (in thousands):

												Three Months Ended March 31,
Cash Flow Source						Classification						2026						2025
Operating cash flows from operating leases						Operating activities						$	(6,856)					$	(6,558)
Operating cash flows from financing leases						Operating activities						$	(23)					$	(26)
Financing cash flows from financing leases						Financing activities						$	(159)					$	(146)

Refer to Note 4 – Revenue Recognition for a discussion on the Company’s activities as lessor.

Leases

Note 7 – Leases

The Company leases property used for warehousing, distribution centers, office space, branch locations, equipment and vehicles. The components of lease cost were as follows (in thousands):

												Three Months Ended March 31,
Lease Type						Classification						2026						2025
Operating lease expense(1)						Operating expenses						$	7,323					$	6,827
Financing lease amortization						Operating expenses						138						150
Financing lease interest						Interest expense						23						26
Financing lease expense												161						176
Sublease income(2)												(193)						(159)
Net lease cost												$	7,291					$	6,844

(1)    Includes short-term lease expense, which is immaterial.

(2)    The Company subleases excess property to third-party tenants. Sublease income is recognized on a straight-line basis over the sublease agreement and is recorded as an offset to operating lease expense.

The value of net assets and liabilities related to our operating and finance leases as of March 31, 2026 and December 31, 2025 was as follows (in thousands):

Lease Type						March 31, 2026						December 31, 2025
Total right of use operating lease assets						$	108,938					$	111,117
Total right of use financing lease assets						1,519						1,573
Total lease assets						$	110,457					$	112,690
Total current operating lease obligation						$	20,329					$	20,030
Total current financing lease obligation						584						594
Total current lease obligation						$	20,913					$	20,624
Total long-term operating lease obligation						$	95,698					$	98,022
Total long-term financing lease obligation						714						799
Total long-term lease obligation						$	96,412					$	98,821

The value of lease liabilities related to our operating and finance leases and sublease income as of March 31, 2026 was as follows (in thousands):

Maturity Date of Lease Liabilities						Operating Leases						Financing Leases						Total						Sublease Income
Remaining 2026						$	20,731					$	501					$	21,232					$	451
2027						26,689						435						27,124						168
2028						24,058						297						24,355						74
2029						20,363						135						20,498						44
2030						13,722						55						13,777						30
Thereafter						42,431						1						42,432						—
Total lease payments						147,994						1,424						149,418						767
Less: Interest						(31,967)						(126)						(32,093)						—
Present value of lease liabilities						$	116,027					$	1,298					$	117,325					$	767

The weighted average lease terms and interest rates of leases held as of March 31, 2026 and December 31, 2025 were as follows:

March 31, 2026

December 31, 2025

Operating Leases

Finance Leases

Operating Leases

Finance Leases

Weighted average remaining lease term

6.4 years

3.1 years

6.0 years

3.2 years

Weighted average interest rate

7.4%

7.0%

7.5%

7.1%

The cash outflows of leasing activity for the three months ended March 31, 2026 and 2025 were as follows (in thousands):

												Three Months Ended March 31,
Cash Flow Source						Classification						2026						2025
Operating cash flows from operating leases						Operating activities						$	(6,856)					$	(6,558)
Operating cash flows from financing leases						Operating activities						$	(23)					$	(26)
Financing cash flows from financing leases						Financing activities						$	(159)					$	(146)

Refer to Note 4 – Revenue Recognition for a discussion on the Company’s activities as lessor.

Leases

Note 7 – Leases

The Company leases property used for warehousing, distribution centers, office space, branch locations, equipment and vehicles. The components of lease cost were as follows (in thousands):

												Three Months Ended March 31,
Lease Type						Classification						2026						2025
Operating lease expense(1)						Operating expenses						$	7,323					$	6,827
Financing lease amortization						Operating expenses						138						150
Financing lease interest						Interest expense						23						26
Financing lease expense												161						176
Sublease income(2)												(193)						(159)
Net lease cost												$	7,291					$	6,844

(1)    Includes short-term lease expense, which is immaterial.

(2)    The Company subleases excess property to third-party tenants. Sublease income is recognized on a straight-line basis over the sublease agreement and is recorded as an offset to operating lease expense.

The value of net assets and liabilities related to our operating and finance leases as of March 31, 2026 and December 31, 2025 was as follows (in thousands):

Lease Type						March 31, 2026						December 31, 2025
Total right of use operating lease assets						$	108,938					$	111,117
Total right of use financing lease assets						1,519						1,573
Total lease assets						$	110,457					$	112,690
Total current operating lease obligation						$	20,329					$	20,030
Total current financing lease obligation						584						594
Total current lease obligation						$	20,913					$	20,624
Total long-term operating lease obligation						$	95,698					$	98,022
Total long-term financing lease obligation						714						799
Total long-term lease obligation						$	96,412					$	98,821

The value of lease liabilities related to our operating and finance leases and sublease income as of March 31, 2026 was as follows (in thousands):

Maturity Date of Lease Liabilities						Operating Leases						Financing Leases						Total						Sublease Income
Remaining 2026						$	20,731					$	501					$	21,232					$	451
2027						26,689						435						27,124						168
2028						24,058						297						24,355						74
2029						20,363						135						20,498						44
2030						13,722						55						13,777						30
Thereafter						42,431						1						42,432						—
Total lease payments						147,994						1,424						149,418						767
Less: Interest						(31,967)						(126)						(32,093)						—
Present value of lease liabilities						$	116,027					$	1,298					$	117,325					$	767

The weighted average lease terms and interest rates of leases held as of March 31, 2026 and December 31, 2025 were as follows:

March 31, 2026

December 31, 2025

Operating Leases

Finance Leases

Operating Leases

Finance Leases

Weighted average remaining lease term

6.4 years

3.1 years

6.0 years

3.2 years

Weighted average interest rate

7.4%

7.0%

7.5%

7.1%

The cash outflows of leasing activity for the three months ended March 31, 2026 and 2025 were as follows (in thousands):

												Three Months Ended March 31,
Cash Flow Source						Classification						2026						2025
Operating cash flows from operating leases						Operating activities						$	(6,856)					$	(6,558)
Operating cash flows from financing leases						Operating activities						$	(23)					$	(26)
Financing cash flows from financing leases						Financing activities						$	(159)					$	(146)

Refer to Note 4 – Revenue Recognition for a discussion on the Company’s activities as lessor.

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

X

- Definition

The entire disclosure for lessor's operating leases.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-30/tableOfContent

+ Details

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