Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

7. Leases

The Company's ROU assets and lease liabilities are discussed in detail in Note 1 — Description of Business and Summary of Significant Accounting Policies.

The components of lease costs were as follows:

	Years Ended December 31,
	2024		2023		2022
Operating Lease Costs:
Fixed	$	61,464	$	57,409	$	52,303
Variable	8,890		8,243		7,433
Short-term	20,564		20,550		20,291
Total(1)	$	90,918	$	86,202	$	80,027

(1) Finance lease cost and sublease income were immaterial.

Supplemental cash flow information related to leases were as follows:

	Years Ended December 31,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	63,093	$	57,607	$	52,973
Operating cash flows for finance leases	443		318		335
Financing cash flows for finance leases	4,316		3,231		2,917
Total	$	67,852	$	61,156	$	56,225
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	49,021	$	50,997	$	55,916
Financing leases	4,469		3,539		3,149
Total	$	53,490	$	54,536	$	59,065

Supplemental balance sheet information related to leases were as follows:

	December 31, 2024		December 31, 2023
Operating Leases
Right-of-use assets:
Other assets and deferred charges	$	208,379	$	206,802
Lease liabilities:
Other accrued expenses	$	49,646	$	47,973
Other liabilities	174,905		170,822
Total operating lease liabilities	$	224,551	$	218,795
Finance Leases
Right-of-use assets:
Property, plant and equipment, net (1)	$	9,044	$	7,987
Lease liabilities:
Other accrued expenses	$	3,543	$	3,065
Other liabilities	5,603		5,896
Total finance lease liabilities	$	9,146	$	8,961

(1) Finance lease right-of-use assets are recorded net of accumulated depreciation of $12,378 and $10,206 for the years ended December 31, 2024 and December 31, 2023, respectively.

The aggregate future lease payments for operating and finance leases as of December 31, 2024 were as follows:

	Operating		Finance
2025	$	57,586	$	4,356
2026	45,225		3,687
2027	38,118		1,646
2028	30,332		516
2029	21,623		131
Thereafter	70,820		61
Total lease payments	263,704		10,397
Less interest	(39,153)		(1,251)
Present value of lease liabilities	$	224,551	$	9,146

Average lease terms and discount rates were as follows:

	December 31, 2024		December 31, 2023		December 31, 2022
Weighted-average remaining lease term (years)
Operating leases	6.9		7.2		7.8
Finance leases	2.7		3.0		3.6
Weighted-average discount rate
Operating leases	4.1	%	4.0	%	3.5	%
Finance leases	4.2	%	3.9	%	3.4	%

Leases

7. Leases

The Company's ROU assets and lease liabilities are discussed in detail in Note 1 — Description of Business and Summary of Significant Accounting Policies.

The components of lease costs were as follows:

	Years Ended December 31,
	2024		2023		2022
Operating Lease Costs:
Fixed	$	61,464	$	57,409	$	52,303
Variable	8,890		8,243		7,433
Short-term	20,564		20,550		20,291
Total(1)	$	90,918	$	86,202	$	80,027

(1) Finance lease cost and sublease income were immaterial.

Supplemental cash flow information related to leases were as follows:

	Years Ended December 31,
	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	63,093	$	57,607	$	52,973
Operating cash flows for finance leases	443		318		335
Financing cash flows for finance leases	4,316		3,231		2,917
Total	$	67,852	$	61,156	$	56,225
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	49,021	$	50,997	$	55,916
Financing leases	4,469		3,539		3,149
Total	$	53,490	$	54,536	$	59,065

Supplemental balance sheet information related to leases were as follows:

	December 31, 2024		December 31, 2023
Operating Leases
Right-of-use assets:
Other assets and deferred charges	$	208,379	$	206,802
Lease liabilities:
Other accrued expenses	$	49,646	$	47,973
Other liabilities	174,905		170,822
Total operating lease liabilities	$	224,551	$	218,795
Finance Leases
Right-of-use assets:
Property, plant and equipment, net (1)	$	9,044	$	7,987
Lease liabilities:
Other accrued expenses	$	3,543	$	3,065
Other liabilities	5,603		5,896
Total finance lease liabilities	$	9,146	$	8,961

(1) Finance lease right-of-use assets are recorded net of accumulated depreciation of $12,378 and $10,206 for the years ended December 31, 2024 and December 31, 2023, respectively.

The aggregate future lease payments for operating and finance leases as of December 31, 2024 were as follows:

	Operating		Finance
2025	$	57,586	$	4,356
2026	45,225		3,687
2027	38,118		1,646
2028	30,332		516
2029	21,623		131
Thereafter	70,820		61
Total lease payments	263,704		10,397
Less interest	(39,153)		(1,251)
Present value of lease liabilities	$	224,551	$	9,146

Average lease terms and discount rates were as follows:

	December 31, 2024		December 31, 2023		December 31, 2022
Weighted-average remaining lease term (years)
Operating leases	6.9		7.2		7.8
Finance leases	2.7		3.0		3.6
Weighted-average discount rate
Operating leases	4.1	%	4.0	%	3.5	%
Finance leases	4.2	%	3.9	%	3.4	%