Leases

12 Months Ended

Dec. 31, 2025

NOTE 8 – LEASES

As Lessee

The components of lease expense are as follows:


	December 31,
(Dollars in thousands)	2025		2024		2023
Lease cost
Finance lease cost:
Amortization of right-of-use assets	$	41	$	41	$	25
Interest on lease liabilities		2		5		1
Operating lease cost		28,653		29,314		32,877
Variable lease cost		(11)		2,809		1,501
Total lease cost	$	28,685	$	32,169	$	34,404

Supplemental cash flow information related to leases is as follows:


	December 31,
(Dollars in thousands)	2025		2024
Cash flows relating to lease cost
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for finance leases	$	44	$	44
Operating cash flows for operating leases		23,503		25,531
Right-of-use assets obtained in exchange for new operating lease liabilities	$	8,231	$	9,066

Supplemental balance sheet information related to leases is as follows:


	December 31,
(Dollars in thousands)	2025		2024
Operating leases
Operating lease right-of-use assets	$	159,659	$	160,873
Operating lease liabilities - current portion		20,081		20,747
Operating lease liabilities - non-current portion		162,919		161,702
Total operating lease liabilities	$	183,000	$	182,449
Finance leases
Property plant and equipment, gross	$	225	$	217
Accumulated depreciation		(225)		(175)
Property plant and equipment, net	$	—	$	42
Other current liabilities		—		43
Other long-term liabilities		—		—
Total finance lease liabilities	$	—	$	43

Other information
Weighted-average remaining lease term - finance leases		-		1
Weighted-average remaining lease term - operating leases		10		11
Weighted-average discount rate - finance leases		Nil		7.07%
Weighted-average discount rate - operating leases		5.04%		4.86%

The Maturities of our leases were as follows:

As of December 31, 2025, we have no commitments for leases that are yet to commence.

As Lessor

Lease income relating to operating lease payments was as follows:

The Maturity of our leases were as follows: