LEASES

3 Months Ended

Mar. 31, 2024

Leases

Leases

NOTE 5 – LEASES

The Company leases certain office space, retail stores, distribution centers, and equipment under long-term, non-cancelable operating leases.  The following table summarizes Total lease cost for the three months ended March 31, 2024 and 2023, which were primarily included in “Selling, general and administrative expenses” on the accompanying Condensed Consolidated Statements of Income (in thousands):

	For the Three Months Ended
	March 31,
	2024		2023
Operating lease cost	$	103,556	$	96,518
Short-term operating lease cost		2,500		3,704
Variable operating lease cost		25,634		24,471
Sublease income		(1,154)		(1,214)
Total lease cost	$	130,536	$	123,479

The following table summarizes other lease-related information for the three months ended March 31, 2024 and 2023:

		For the Three Months Ended
		March 31,
		2024		2023
Cash paid for amounts included in the measurement of operating lease liabilities:
	Operating cash flows from operating leases	$	101,616	$	95,494
Right-of-use assets obtained in exchange for new operating lease liabilities			88,091		126,986