Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases

Leases

We have entered into various non-cancelable office space operating leases with original lease periods expiring between 2026 and 2036. These do not contain material variable rent payments, residual value guarantees, covenants or other restrictions. Operating lease costs for the years ended December 31, 2025, 2024 and 2023, are as follows (in thousands):

	Year Ended December 31,
	2025		2024		2023
Lease cost:
Operating lease cost	$	40,892	$	41,031	$	51,044
Short-term lease cost	2,316		1,532		759
Total	$	43,208	$	42,563	$	51,803

In April 2024, we entered into a sublease agreement with a term of May 2024 through December 2032. Sublease income for the year ended December 31, 2025 was not material.

The weighted-average remaining term of our operating leases was 7.4 years and 6.6 years, and the weighted-average discount rate used to measure the present value of our operating lease liabilities was 5.3% and 5.4% as of December 31, 2025 and 2024, respectively.

Maturities of our operating lease liabilities, which do not include short-term leases, as of December 31, 2025, are as follows (in thousands):

	Operating Leases
2026	$	49,969
2027	46,958
2028	41,077
2029	36,232
2030	32,453
Thereafter	116,811
Total lease payments	323,500
Less imputed interest	(61,482)
Total operating lease liabilities	$	262,018

Cash payments included in the measurement of our operating lease liabilities were $44.1 million, $50.4 million and $61.8 million for the years ended December 31, 2025, 2024 and 2023, respectively.

As of December 31, 2025, operating leases that have not yet commenced were not material and are excluded from the table above.