We lease retail shoe stores, as well as several office and distribution facilities worldwide. The leases have original lease periods expiring between 2025 and 2031. Many leases include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024

	(Dollars in thousands)
Operating lease costs	$	1,186	$	1,116	$	2,267	$	2,222
Variable lease costs ⁽¹⁾		—		—		—		—
Total lease costs	$	1,186	$	1,116	$	2,267	$	2,222

⁽¹⁾ Variable lease costs primarily include percentage rentals based upon sales in excess of specified amounts.

Short-term lease costs, which were excluded from the above table, are not material to our financial statements.

The following is a schedule of maturities of operating lease liabilities as of June 30 2025:


	Operating Leases
	(Dollars in thousands)
2025, excluding the six months ended June 30, 2025	$	2,624
2026		4,555
2027		2,834
2028		1,841
2029		1,275
Thereafter		424
Total lease payments		13,553
Less: imputed interest		(866)
Present value of operating lease liabilities	$	12,687

The operating lease liabilities were classified in the Condensed Consolidated Balance Sheets as follows:


	June 30,		December 31,
		2025		2024

	(Dollars in thousands)
Operating lease liabilities - current	$	4,751	$	4,033
Operating lease liabilities - non-current		7,936		7,034
Total	$	12,687	$	11,067

We determined the present value of our lease liabilities using a weighted-average discount rate of 4.89%. As of June 30, 2025, our leases had a weighted-average remaining lease term of 3.2 years.

Supplemental cash flow information related to our operating leases is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024

	(Dollars in thousands)
Cash paid for amounts included in the measurement of lease liabilities	$	1,311	$	1,181	$	2,524	$	2,322
Right-of-use assets obtained in exchange for new lease liabilities (noncash)	$	1,575	$	259	$	3,358	$	259