Leases (Tables)

3 Months Ended

Mar. 31, 2025

The table below presents the lease-related assets and liabilities recorded on the condensed consolidated balance sheets (in thousands, except for remaining lease terms and percentages):


	March 31, 2025			December 31, 2024
Operating Leases
Assets
Operating lease right-of-use assets	$	146,272		$	148,397
Liabilities
Operating lease liabilities, current	$	24,920		$	25,192
Operating lease liabilities, non-current	147,972			152,074
Total operating lease liabilities	$	172,892		$	177,266

Finance Leases
Assets
Finance lease right-of-use assets(1)	$	70,265		$	79,704
Liabilities
Finance lease liabilities, current(2)	$	30,047		$	31,268
Finance lease liabilities, non-current(3)	46,225			54,351
Total finance lease liabilities	$	76,272		$	85,619

Weighted-average remaining lease term (years)
Operating leases	7.4			7.7
Finance leases	2.4			2.6
Weighted-average discount rate
Operating leases	6.6		%	6.6		%
Finance leases	6.4		%	6.4		%

_______________

(1)This balance is included within property and equipment, net on the condensed consolidated balance sheets and is primarily related to Flexdrive.

(2)This balance is included within other current liabilities on the condensed consolidated balance sheets and is primarily related to Flexdrive.

(3)This balance is included within other liabilities on the condensed consolidated balance sheets and is primarily related to Flexdrive.

Schedule of Lease Costs and Supplemental Cash Flow Information

The table below presents certain information related to the costs for operating leases and finance leases (in thousands):


	Three Months Ended March 31,
	2025		2024
Operating Leases
Operating lease cost	$	8,416	$	10,004

Finance Leases
Amortization of right-of-use assets	$	7,892	$	6,306
Interest on lease liabilities	1,301		1,346

Other Lease Costs
Short-term lease cost	$	762	$	945
Variable lease cost (1)	1,714		2,592
Total lease cost	$	20,085	$	21,193

_______________

(1)Consists primarily of common area maintenance and taxes and utilities for real estate leases.

The table below presents certain supplemental information related to the cash flows for operating and finance leases recorded on the condensed consolidated statements of cash flows (in thousands):


	Three Months Ended March 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	10,621	$	15,391
Operating cash flows from finance leases	1,187		1,277
Financing cash flows from finance leases	10,903		11,479

Schedule of Operating Lease Liabilities

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the lease liabilities recorded on the condensed consolidated balance sheets as of March 31, 2025 (in thousands):


	Operating Leases		Finance Leases		Total Leases
Remainder of 2025	$	25,556	$	25,451	$	51,007
2026	35,207		32,049		67,256
2027	30,911		16,329		47,240
2028	25,804		9,602		35,406
2029	24,864		—		24,864
Thereafter	78,606		—		78,606
Total minimum lease payments	220,948		83,431		304,379
Less: amount of lease payments representing interest	(48,056)		(7,159)		(55,215)
Present value of future lease payments	172,892		76,272		249,164
Less: current obligations under leases	(24,920)		(30,047)		(54,967)
Long-term lease obligations	$	147,972	$	46,225	$	194,197

Schedule of Finance Lease Liabilities


	Operating Leases		Finance Leases		Total Leases
Remainder of 2025	$	25,556	$	25,451	$	51,007
2026	35,207		32,049		67,256
2027	30,911		16,329		47,240
2028	25,804		9,602		35,406
2029	24,864		—		24,864
Thereafter	78,606		—		78,606
Total minimum lease payments	220,948		83,431		304,379
Less: amount of lease payments representing interest	(48,056)		(7,159)		(55,215)
Present value of future lease payments	172,892		76,272		249,164
Less: current obligations under leases	(24,920)		(30,047)		(54,967)
Long-term lease obligations	$	147,972	$	46,225	$	194,197