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Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases LEASES
The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to, and the agreement creates enforceable rights and obligations. Under ASC 842, a contract is or contains a lease when (i) explicitly or implicitly identified assets have been deployed in the contract and (ii) the customer obtains substantially all of the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract. The Company also considers whether its service arrangements include the right to control the use of an asset.
The Company leases real estate facilities from unrelated parties under operating lease agreements that have initial terms ranging from one to 20 years. The Company also leases vehicles under finance lease agreements with initial terms of four to five years. Accordingly, the Company recognizes a right-of-use (“ROU”) asset representing the right to use an underlying asset and a lease liability representing the obligation to make lease payments over the lease term for substantially all leases with a lease term greater than 12 months.
 SuccessorPredecessor
Year Ended December 31, 2025July 30 through December 31, 2024January 1 through July 29, 2024Year Ended December 31, 2023
Operating lease cost$16,703 $3,667 $5,736 $8,813 
Finance lease cost - amortization of right-of-use assets12,519 4,118 6,010 10,298 
Finance lease cost - Interest on lease liabilities2,155 799 1,005 1,523 
Short term lease expense— 1,171 202 — 
Variable lease cost4,830 731 1,063 4 
Total lease cost$36,207 $10,486 $14,016 $20,638 
Operating lease cost is recognized on a straight-line basis over the lease term and is recorded primarily in selling, general, and administrative expenses. Finance lease cost is recognized as a combination of the amortization expense for the ROU assets and interest expense for the outstanding lease liabilities, and results in a front-loaded expense pattern over the lease term. The components of lease expense are as follows:
Supplemental cash flow information related to lease is as follows:
SuccessorPredecessor
Year Ended December 31, 2025July 30 through December 31, 2024January 1 through July 29, 2024Year Ended December 31, 2023
Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases15,850 3,429 5,990 9,284 
Operating cash outflows - interest payments on finance leases2,155 799 1,005 1,523 
Financing cash outflows - principal payments on finance leases12,042 3,906 5,745 9,948 
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases44,935 5,575 6,748 6,949 
Finance leases21,454 4,673 5,988 11,049 
Supplemental balance sheet information related to leases is as follows:
Successor
December 31, 2025December 31, 2024
Operating Leases
Operating lease right-of-use assets, net$60,209 $30,001 
Current portion of operating lease obligations$19,894 $7,204 
Non-current operating lease obligations$40,619 $21,838 
Total operating lease liabilities$60,513 $29,042 
Finance Leases
Equipment, net$38,476 $28,532 
Current portion of finance lease obligations$13,690 $9,824 
Non-current finance lease obligations$25,430 $18,915 
Total finance lease liabilities$39,120 $28,739 
Weighted-average remaining lease term (years):
Operating leases4.145.45
Finance leases3.103.26
Weighted-average discount rate:
Operating leases6.74 %7.32 %
Finance leases6.72 %6.78 %
As of December 31, 2025, maturities of the Companies lease liabilities under its long-term operating leases and finance leases for each of the next five years and thereafter are as follows:
Year Ending December 31,Operating
Leases		Finance
Leases
2026$23,213 $15,755 
202715,897 12,128 
202811,275 8,144 
20298,286 5,490 
20305,089 2,201 
Thereafter6,041 91 
Total lease payments$69,801 $43,809 
Less imputed interest(9,288)(4,689)
Total present value of lease liabilities$60,513 $39,120 
Leases LEASES
The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to, and the agreement creates enforceable rights and obligations. Under ASC 842, a contract is or contains a lease when (i) explicitly or implicitly identified assets have been deployed in the contract and (ii) the customer obtains substantially all of the economic benefits from the use of that underlying asset and directs how and for what purpose the asset is used during the term of the contract. The Company also considers whether its service arrangements include the right to control the use of an asset.
The Company leases real estate facilities from unrelated parties under operating lease agreements that have initial terms ranging from one to 20 years. The Company also leases vehicles under finance lease agreements with initial terms of four to five years. Accordingly, the Company recognizes a right-of-use (“ROU”) asset representing the right to use an underlying asset and a lease liability representing the obligation to make lease payments over the lease term for substantially all leases with a lease term greater than 12 months.
 SuccessorPredecessor
Year Ended December 31, 2025July 30 through December 31, 2024January 1 through July 29, 2024Year Ended December 31, 2023
Operating lease cost$16,703 $3,667 $5,736 $8,813 
Finance lease cost - amortization of right-of-use assets12,519 4,118 6,010 10,298 
Finance lease cost - Interest on lease liabilities2,155 799 1,005 1,523 
Short term lease expense— 1,171 202 — 
Variable lease cost4,830 731 1,063 4 
Total lease cost$36,207 $10,486 $14,016 $20,638 
Operating lease cost is recognized on a straight-line basis over the lease term and is recorded primarily in selling, general, and administrative expenses. Finance lease cost is recognized as a combination of the amortization expense for the ROU assets and interest expense for the outstanding lease liabilities, and results in a front-loaded expense pattern over the lease term. The components of lease expense are as follows:
Supplemental cash flow information related to lease is as follows:
SuccessorPredecessor
Year Ended December 31, 2025July 30 through December 31, 2024January 1 through July 29, 2024Year Ended December 31, 2023
Cash paid for amounts included in measurement of lease liabilities:
Operating cash outflows - payments on operating leases15,850 3,429 5,990 9,284 
Operating cash outflows - interest payments on finance leases2,155 799 1,005 1,523 
Financing cash outflows - principal payments on finance leases12,042 3,906 5,745 9,948 
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases44,935 5,575 6,748 6,949 
Finance leases21,454 4,673 5,988 11,049 
Supplemental balance sheet information related to leases is as follows:
Successor
December 31, 2025December 31, 2024
Operating Leases
Operating lease right-of-use assets, net$60,209 $30,001 
Current portion of operating lease obligations$19,894 $7,204 
Non-current operating lease obligations$40,619 $21,838 
Total operating lease liabilities$60,513 $29,042 
Finance Leases
Equipment, net$38,476 $28,532 
Current portion of finance lease obligations$13,690 $9,824 
Non-current finance lease obligations$25,430 $18,915 
Total finance lease liabilities$39,120 $28,739 
Weighted-average remaining lease term (years):
Operating leases4.145.45
Finance leases3.103.26
Weighted-average discount rate:
Operating leases6.74 %7.32 %
Finance leases6.72 %6.78 %
As of December 31, 2025, maturities of the Companies lease liabilities under its long-term operating leases and finance leases for each of the next five years and thereafter are as follows:
Year Ending December 31,Operating
Leases		Finance
Leases
2026$23,213 $15,755 
202715,897 12,128 
202811,275 8,144 
20298,286 5,490 
20305,089 2,201 
Thereafter6,041 91 
Total lease payments$69,801 $43,809 
Less imputed interest(9,288)(4,689)
Total present value of lease liabilities$60,513 $39,120