v3.25.4
Operating Leases
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Operating Leases Operating Leases
The Company has operating leases for all of its facilities and autos. The operating lease cost, included in selling, general and administrative expense in the consolidated statements of operations, consisted of the following (in thousands):
Years Ended
December 31,
20252024
Operating lease cost:
Lease cost(1)
$25,417 $29,057 
Variable lease cost(2)
5,182 6,241 
Sublease income(1,195)(1,037)
$29,404 $34,261 
(1)Includes charges related to consolidation of office space during the years ended December 31, 2025 and 2024.
(2)Primarily relates to common area maintenance, property taxes, insurance, utilities and parking.
Maturities of lease liabilities by year consisted of the following (in thousands):
December 31,
2025
2026$22,456 
202719,211 
202815,281 
202911,239 
20308,664 
Thereafter12,453 
Total future minimum lease payments89,304 
Less imputed interest(11,049)
Present value of operating lease liabilities$78,255 
Other information related to the operating leases consisted of the following:
December 31,
20252024
Weighted average remaining operating lease term4.74 years5.11 years
Weighted average discount rate5.4 %5.2 %