Right-of-Use Assets and Lease Liabilities

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Right-of-Use Assets and Lease Liabilities

Right-of-Use Assets and Lease Liabilities

The Company has entered into various operating lease agreements for office space. As of December 31, 2025, the Company had various leased properties with remaining lease terms from 0.1 years to 5.0 years, some of which include options to extend the leases for up to 5.0 years.

In the years ended December 31, 2025 and 2024, there were no significant impairment charges related to office closures. During 2023, as a result of the office closures described in Note 6, the Company impaired several of its ROU assets related to office leases that would no longer be used to support its ongoing operations. Of the $34.8 million of impairment recorded in the year ended December 31, 2023, $24.8 million related to the ROU assets and the remaining amount related to the associated assets in the property, plant and equipment categories.

For the years ended December 31, 2025, 2024 and 2023, the Company did not have significant sublease income related to any of its subleased offices.

Operating lease costs recorded in the accompanying consolidated statements of operations were $27.0 million, $25.4 million and $35.7 million for the years ended December 31, 2025, 2024 and 2023, respectively. Lease costs associated with short-term leases, variable leases and finance leases were not significant.

Supplemental cash flow and other information related to operating leases are as follows:

	Year Ended
	December 31,
	2025			2024
Operating cash flows paid for amounts included in operating lease liabilities (in thousands)	$	40,700		$	54,376
Weighted average remaining lease term (in years)	2.9			3.6
Weighted average discount rate	4.7		%	4.6		%

Maturities of operating lease liabilities are as follows:

	As of December 31, 2025
Year Ended December 31,	(In thousands)
2026	$	38,557
2027	29,320
2028	22,445
2029	4,492
2030	554
Total lease payments	95,368
Less: imputed interest	(6,083)
Total operating lease obligations	89,285
Less: current obligations	(35,123)
Long-term operating lease obligations	$	54,162