Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases

Note F—Leases

The Company has operating leases for corporate and field offices, and certain equipment. The Company’s leases have remaining lease terms of less than one year to 11 years, some of which include options to extend the leases for up to seven years, and some of which include options to terminate the leases within one year. Operating lease expense was $79.1 million, $82.5 million and $89.0 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Supplemental cash flow information related to leases consisted of the following (in thousands):

	Year Ended December 31,
	2025		2024		2023
Cash paid for operating lease liabilities	$	79,915	$	91,143	$	94,633
Right-of-use assets obtained in exchange for new operating lease liabilities	$	75,613	$	78,613	$	91,762

Supplemental balance sheet information related to leases consisted of the following:

	Year Ended December 31,
	2025		2024		2023
Weighted average remaining lease term for operating leases	4.6 years		4.6 years		4.3 years
Weighted average discount rate for operating leases	4.2	%	3.9	%	3.2	%

Future minimum lease payments under noncancelable leases as of December 31, 2025, were as follows (in thousands):

2026	$	79,286
2027	59,736
2028	44,995
2029	32,942
2030	22,317
Thereafter	34,217
Less: Imputed interest	(27,955)
Present value of operating lease liabilities (a)	$	245,538

(a) Includes current portion of $69.8 million for operating leases.

As of December 31, 2025, the Company had additional future minimum lease obligations totaling $73.0 million under executed operating lease contracts that had not yet commenced. These operating leases include agreements for corporate and field office facilities with lease terms of three years to 11 years.