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LEASES
 6 Months Ended
Jun. 30, 2025
Leases [Abstract]  
LEASES LEASES
Right-of-Use Assets and Operating Lease Liabilities

Amounts reported in the condensed consolidated balance sheets were:
June 30, 2025December 31, 2024
(in thousands)
Assets:
Right-of-use assets$349,268 $307,228 
Liabilities:
Current operating lease liabilities$82,918 $68,551 
Long-term operating lease liabilities311,549 283,406 
Total operating lease liabilities$394,467 $351,957 
Lease Costs and Other Information

Lease-related costs reported within ‘Cost of sales’ and ‘Selling, general and administrative expenses’ in our condensed consolidated statements of operations were:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in thousands)
Operating lease cost $25,552 $20,409 $49,738 $40,654 
Short-term lease cost3,432 5,214 6,392 10,013 
Variable lease cost15,894 15,944 21,483 23,307 
Total lease costs$44,878 $41,567 $77,613 $73,974 

The weighted average remaining lease term and discount rate related to our lease liabilities as of June 30, 2025, was 5.8 years and 6.6%, respectively. As of June 30, 2024, the weighted average remaining lease term and discount rate related to our lease liabilities was 6.6 years and 6.3%, respectively.

During the six months ended June 30, 2024, we impaired our right-of-use assets for our former HEYDUDE Brand warehouses in Las Vegas, Nevada and our former Crocs Brand warehouse in Oudenbosch, the Netherlands, as described in Note 6 — Fair Value Measurements.

Maturities

The maturities of our operating lease liabilities were:
As of
June 30, 2025
(in thousands)
2025 (remainder of year)$44,608 
202698,519 
202782,940 
202867,301 
202954,949 
Thereafter129,500 
Total future minimum lease payments477,817 
Less: imputed interest(83,350)
Total operating lease liabilities$394,467