Lease Commitments

12 Months Ended

Dec. 31, 2024

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 $98.0 million, $93.4 million, and $92.0 million in 2024, 2023, and 2022, respectively.

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

(thousands)	2024		2023
Operating Leases
Right-of-use asset	$	251,129	$	269,524
Lease liability - current	$	68,941	$	74,232
Lease liability - non-current		198,466		210,110
Total operating lease liabilities	$	267,407	$	284,342

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

(thousands)	2024
2025	$	77,607
2026		63,279
2027		53,911
2028		43,888
2029		23,085
Thereafter		39,252
Total lease payments		301,022
Less: imputed interest		(33,615)
Total	$	267,407

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

(thousands)	2024		2023
Supplemental Cash Flow Information
Cash paid for amounts included in the measurement of operating lease liabilities	$	94,829	$	91,797
Right-of-use assets obtained in exchange for operating lease obligations		62,583		74,356
Operating Lease Term and Discount Rate
Weighted-average remaining lease term in years		5 years		5 years
Weighted-average discount rate		5.4%		4.6%