Lease Commitments

12 Months Ended

Dec. 31, 2025

Lease Commitments

Lease Commitments

14. Lease Commitments

The company leases certain offices, distribution centers, and other property under non-cancellable operating leases expiring at various dates through 2036. Substantially all leases are classified as operating leases. The company recorded operating lease costs of $109.1 million, $98.0 million, and $93.4 million in 2025, 2024, and 2023, respectively.

The following amounts were recorded in the consolidated balance sheets at December 31:

(thousands)	2025		2024
Operating Leases
Right-of-use asset	$	248,823	$	251,129
Lease liability - current	$	76,537	$	68,941
Lease liability - non-current		186,721		198,466
Total operating lease liabilities	$	263,258	$	267,407

Maturities of operating lease liabilities at December 31 were as follows:

(thousands)	2025
2026	$	87,157
2027		72,935
2028		55,371
2029		30,987
2030		18,963
Thereafter		31,200
Total lease payments		296,613
Less: imputed interest		(33,355)
Total	$	263,258

Other information pertaining to leases consists of the following for the year ended December 31:

(thousands)	2025		2024
Supplemental Cash Flow Information
Cash paid for amounts included in the measurement of operating lease liabilities	$	88,656	$	94,829
Right-of-use assets obtained in exchange for operating lease obligations		52,287		62,583
Operating Lease Term and Discount Rate
Weighted-average remaining lease term in years		4 years		5 years
Weighted-average discount rate		4.9%		5.4%