Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases

Leases

Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases:

	December 31, 2025		December 31, 2024
Weighted average remaining lease term:
Operating leases	6.4 years		6.4 years
Financing leases	4.1 years		2.9 years
Weighted average discount rate:
Operating leases	4.4	%	4.1	%
Financing leases	4.8	%	5.2	%

Following is a summary of the Company’s leases within the consolidated statements of operations:

	Fiscal Year
(in thousands)	2025		2024		2023
Operating lease costs	$	27,579	$	29,616	$	32,959
Short-term and variable leases	7,952		12,816		15,995
Depreciation expense from financing leases	1,051		1,647		1,646
Interest expense on financing lease obligations	156		321		447
Total lease cost	$	36,738	$	44,400	$	51,047

The future minimum lease payments related to the Company’s leases include renewal options the Company has determined to be reasonably certain and exclude payments to landlords for real estate taxes and common area maintenance. Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2025:

(in thousands)	Operating Leases		Financing Leases
2026	$	28,530	$	627
2027	24,969		338
2028	20,403		345
2029	19,095		352
2030	11,447		268
Thereafter	33,290		—
Total minimum lease payments including interest	$	137,734	$	1,930
Less:  Amounts representing interest	18,246		186
Present value of minimum lease principal payments	119,488		1,744
Less:  Current portion of lease liabilities - operating and financing leases	24,412		556
Noncurrent portion of lease liabilities - operating and financing leases	$	95,076	$	1,188

Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2024:

(in thousands)	Operating Leases		Financing Leases
2025	$	26,799	$	2,869
2026	24,578		1,233
2027	21,101		338
2028	16,427		345
2029	15,046		352
Thereafter	27,482		268
Total minimum lease payments including interest	$	131,433	$	5,405
Less:  Amounts representing interest	15,814		374
Present value of minimum lease principal payments	115,619		5,031
Less:  Current portion of lease liabilities - operating and financing leases	23,257		2,685
Noncurrent portion of lease liabilities - operating and financing leases	$	92,362	$	2,346

Following is a summary of the Company’s leases within the consolidated statements of cash flows:

	Fiscal Year
(in thousands)	2025		2024		2023
Cash flows from operating activities impact:
Operating leases	$	28,522	$	32,102	$	33,013
Interest payments on financing lease obligations	156		321		447
Total cash flows from operating activities impact	$	28,678	$	32,423	$	33,460
Cash flows from financing activities impact:
Principal payments on financing lease obligations	$	1,809	$	2,488	$	2,303
Total cash flows from financing activities impact	$	1,809	$	2,488	$	2,303

Leases

Leases

Following is a summary of the weighted average remaining lease term and the weighted average discount rate for the Company’s leases:

	December 31, 2025		December 31, 2024
Weighted average remaining lease term:
Operating leases	6.4 years		6.4 years
Financing leases	4.1 years		2.9 years
Weighted average discount rate:
Operating leases	4.4	%	4.1	%
Financing leases	4.8	%	5.2	%

Following is a summary of the Company’s leases within the consolidated statements of operations:

	Fiscal Year
(in thousands)	2025		2024		2023
Operating lease costs	$	27,579	$	29,616	$	32,959
Short-term and variable leases	7,952		12,816		15,995
Depreciation expense from financing leases	1,051		1,647		1,646
Interest expense on financing lease obligations	156		321		447
Total lease cost	$	36,738	$	44,400	$	51,047

The future minimum lease payments related to the Company’s leases include renewal options the Company has determined to be reasonably certain and exclude payments to landlords for real estate taxes and common area maintenance. Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2025:

(in thousands)	Operating Leases		Financing Leases
2026	$	28,530	$	627
2027	24,969		338
2028	20,403		345
2029	19,095		352
2030	11,447		268
Thereafter	33,290		—
Total minimum lease payments including interest	$	137,734	$	1,930
Less:  Amounts representing interest	18,246		186
Present value of minimum lease principal payments	119,488		1,744
Less:  Current portion of lease liabilities - operating and financing leases	24,412		556
Noncurrent portion of lease liabilities - operating and financing leases	$	95,076	$	1,188

Following is a summary of future minimum lease payments for all noncancelable operating leases and financing leases as of December 31, 2024:

(in thousands)	Operating Leases		Financing Leases
2025	$	26,799	$	2,869
2026	24,578		1,233
2027	21,101		338
2028	16,427		345
2029	15,046		352
Thereafter	27,482		268
Total minimum lease payments including interest	$	131,433	$	5,405
Less:  Amounts representing interest	15,814		374
Present value of minimum lease principal payments	115,619		5,031
Less:  Current portion of lease liabilities - operating and financing leases	23,257		2,685
Noncurrent portion of lease liabilities - operating and financing leases	$	92,362	$	2,346

Following is a summary of the Company’s leases within the consolidated statements of cash flows:

	Fiscal Year
(in thousands)	2025		2024		2023
Cash flows from operating activities impact:
Operating leases	$	28,522	$	32,102	$	33,013
Interest payments on financing lease obligations	156		321		447
Total cash flows from operating activities impact	$	28,678	$	32,423	$	33,460
Cash flows from financing activities impact:
Principal payments on financing lease obligations	$	1,809	$	2,488	$	2,303
Total cash flows from financing activities impact	$	1,809	$	2,488	$	2,303