Leases (Tables)

3 Months Ended

Mar. 31, 2025

Leases

Summary of components of Lease Expense

	For the Three Months Ended
	March 31,
	2025		2024
	(In thousands)
Operating lease cost	$	161,222	$	160,794
Short-term lease cost (1)		7,195		2,928
Finance lease cost:
Amortization of right-of-use assets		7,399		13,945
Interest on lease liabilities		1,502		2,792
Total finance lease cost		8,901		16,737
Total lease costs	$	177,318	$	180,459

(1) Leases that have terms of 12 months or less.

Summary of Supplemental cash flow information related to leases

	For the Three Months Ended
	March 31,
	2025		2024
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	137,246	$	112,238
Operating cash flows from finance leases	$	1,018	$	2,824
Financing cash flows from finance leases	$	4,676	$	15,134
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	59,980	$	199,300
Finance leases	$	—	$	—

Summary of supplemental balance sheet information related to leases

	As of
	March 31,		December 31,
	2025		2024
	(In thousands)
Operating Leases:
Operating lease assets	$	3,119,376	$	3,134,938
Other current liabilities	$	532,094	$	510,697
Operating lease liabilities		3,074,455		3,089,950
Total operating lease liabilities	$	3,606,549	$	3,600,647
Finance Leases:
Property and equipment, gross	$	121,102	$	121,102
Accumulated depreciation		(80,819)		(73,419)
Property and equipment, net	$	40,283	$	47,683
Other current liabilities	$	35,268	$	30,381
Other long-term liabilities		27,256		36,818
Total finance lease liabilities	$	62,524	$	67,199
Weighted Average Remaining Lease Term:
Operating leases		9.6 years		9.7 years
Finance leases		1.5 years		1.7 years
Weighted Average Discount Rate:
Operating leases		10.3%		10.3%
Finance leases		9.5%		9.3%

Summary of maturities of operating lease liabilities

	Maturities of Lease Liabilities
	Operating		Finance
For the Years Ending December 31,	Leases		Leases		Total
	(In thousands)
2025 (remaining nine months)	$	413,317	$	29,699	$	443,016
2026		587,345		36,588		623,933
2027		589,918		2,574		592,492
2028		547,961		—		547,961
2029		529,075		—		529,075
Thereafter		2,973,133		—		2,973,133
Total lease payments		5,640,749		68,861		5,709,610
Less: Imputed interest		(2,034,200)		(6,337)		(2,040,537)
Total		3,606,549		62,524		3,669,073
Less: Current portion		(532,094)		(35,268)		(567,362)
Long-term portion of lease obligations	$	3,074,455	$	27,256	$	3,101,711

Summary of maturities of finance lease liabilities

	Maturities of Lease Liabilities
	Operating		Finance
For the Years Ending December 31,	Leases		Leases		Total
	(In thousands)
2025 (remaining nine months)	$	413,317	$	29,699	$	443,016
2026		587,345		36,588		623,933
2027		589,918		2,574		592,492
2028		547,961		—		547,961
2029		529,075		—		529,075
Thereafter		2,973,133		—		2,973,133
Total lease payments		5,640,749		68,861		5,709,610
Less: Imputed interest		(2,034,200)		(6,337)		(2,040,537)
Total		3,606,549		62,524		3,669,073
Less: Current portion		(532,094)		(35,268)		(567,362)
Long-term portion of lease obligations	$	3,074,455	$	27,256	$	3,101,711