Annual report [Section 13 and 15(d), not S-K Item 405]

Leases (Tables)

v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease, Cost
The components of lease cost consisted of the following:
Year Ended December 31,
(in thousands) 2024 2023 2022
Operating lease cost $ 93,653  $ 83,866  $ 76,650 
Variable lease cost 67,459  65,376  63,537 
Short term lease cost 10,972  10,117  5,775 
$ 172,084  $ 159,359  $ 145,962 
The following table presents supplemental cash flow information related to leases:

Year Ended December 31,
(in thousands) 2024 2023 2022
Cash paid for amounts included in the measurement of operating lease liabilities $ 98,620  $ 85,793  $ 81,130 
Operating lease liabilities arising from obtaining lease ROU assets(1)
$ 128,605  $ 83,393  $ 51,976 
(1) Includes amounts added to the carrying amount of lease liabilities resulting from lease modifications and reassessments.

The following table presents supplemental balance sheet information related to leases:

As of December 31,
2024 2023
Weighted average remaining lease term 5.79 years 5.45 years
Weighted average discount rate 4.89  % 4.42  %
Lessee, Operating Lease, Liability, Maturity
The following table presents the future maturities of operating lease liabilities as of December 31, 2024:

(in thousands)
2025 $ 94,523 
2026 91,054 
2027 79,911 
2028 70,783 
2029 53,899 
Thereafter 133,955 
Total operating lease payments
 524,125 
Less: imputed interest (74,940)
Total operating lease liabilities
 449,185 
Less: current operating lease liabilities
 (75,857)
Non-current operating lease liabilities
 $ 373,328