XML 38 R20.htm IDEA: XBRL DOCUMENT
v3.25.4

Leases | 12 Months Ended
--- | ---
Dec. 31, 2025
Leases [Abstract] |
Leases | Leases The Company has entered into non-cancellable operating leases for office, warehouse, and distribution facilities, with original lease periods expiring through 2032. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheets; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company combines lease and non-lease components for new and reassessed leases. Excluded from the measurement of operating lease liabilities and operating lease right-of-use assets were certain warehouse and distribution contracts that either qualify for the short-term lease recognition exception and/or do not give the Company the right to control the warehouse and/or distribution facilities underlying the contract. Some operating leases also contain the option to renew for five year periods at prevailing market rates at the time of renewal. In addition to minimum rent, certain of the leases require payment of real estate taxes, insurance, common area maintenance charges, and other executory costs. For certain leases the Company receives lease incentives, such as tenant improvement allowances, and records those as adjustments to operating lease right-of-use assets and operating leases liabilities on the consolidated balance sheets and amortize the lease incentives on a straight-line basis over the lease term as an adjustment to rent expense. Rent expense, included in selling, general and administrative expenses on the consolidated statements of operations, was $18.1 million, $24.6 million and $29.4 million for the years ended December 31, 2025, 2024 and 2023, respectively. Variable expenses, such as common area maintenance and property taxes related to the lease agreements, included in selling, general and administrative expenses on the consolidated statements of operations, was $7.4 million, $6.9 million and $7.5 million for the years ended December 31, 2025, 2024 and 2023. During the year ended December 31, 2023, the Company terminated an agreement for a lease that had not commenced and incurred a charge of approximately $4.2 million. During the years ended December 31, 2025, 2024 and 2023, operating cash outflows relating to operating lease liabilities were $18.2 million, $18.2 million and $19.5 million, respectively. Operating lease right-of-use assets obtained in exchange for new operating lease obligations was $1.8 million, $3.2 million and $0.9 million, during the years ended December 31, 2025, 2024 and 2023, respectively. As of December 31, 2025 and 2024, the Company’s operating leases had a weighted-average remaining term of 5.2 years and 6.0 years, respectively, and weighted-average discount rates of 5.67% and 5.76%, respectively. In January 2020, the Company entered into a non-cancellable operating sub-lease for office space that expired December 2024. Rental income recognized for the years ended December 31, 2024 and 2023 was $0.3 million and $0.6 million, respectively, included as a reduction of selling, general and administrative expenses on the consolidated statements of operations. The future payments on the Company’s operating lease liabilities as of December 31, 2025 were as follows (in thousands):
2026 | $ | 19,033 |
2027 | 14,105 |
2028 | 12,897 |
2029 | 10,868 |
2030 | 7,465 |
Thereafter | 11,828 |
Total lease payments | 76,196 |
Less: imputed interest | (8,724) |
Total | $ | 67,472 |

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 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