Leases (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Leases [Abstract] |
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| Schedule of Lease Assets and Liabilities |
Total lease assets and liabilities as of December 31, 2024 and 2023 were as follows:
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| Lease Assets |
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Classification |
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December 31, 2024 |
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December 31, 2023 |
| Operating lease right-of-use assets |
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Operating lease right-of-use assets |
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$ |
410,084 |
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$ |
111,552 |
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| Finance lease assets |
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Property and equipment, net1 |
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44,363 |
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38,015 |
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Total leased assets |
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$ |
454,447 |
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$ |
149,567 |
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| Lease Liabilities |
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Classification |
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December 31, 2024 |
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December 31, 2023 |
| Current: |
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| Operating |
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Current portion of operating lease liabilities |
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$ |
96,440 |
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$ |
44,344 |
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| Finance |
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Current portion of debt and finance lease obligations |
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16,930 |
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12,645 |
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| Noncurrent: |
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| Operating |
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Operating lease liabilities, less current portion |
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325,640 |
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71,598 |
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| Finance |
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Finance lease obligations, less current portion |
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30,858 |
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26,736 |
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Total leased liabilities |
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$ |
469,868 |
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$ |
155,323 |
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1 Finance lease assets are recorded net of accumulated depreciation of $30,805 and $22,051 as of December 31, 2024 and 2023, respectively.
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| Schedule of Lease Costs |
Total lease cost for 2024 and 2023 was as follows:
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Year Ended |
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Classification |
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December 31,
2024 |
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December 31,
2023 |
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| Operating lease cost |
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Operating leases |
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$ |
122,854 |
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$ |
54,604 |
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| Short-term lease cost |
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Operating leases |
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14,623 |
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13,672 |
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| Variable lease cost |
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Purchased transportation, operating leases and other operating expenses |
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434,689 |
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428,385 |
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| Sublease income |
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Operating revenue |
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(5,457) |
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(2,991) |
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| Finance lease cost: |
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| Amortization of leased assets |
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Depreciation and amortization |
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20,194 |
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11,102 |
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| Interest on leased liabilities |
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Interest expense, net |
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3,383 |
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1,395 |
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| Total lease cost |
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$ |
590,286 |
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$ |
506,167 |
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The following table summarizes the weighted-average remaining lease term and weighted average discount rate:
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December 31, 2024 |
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December 31, 2023 |
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| Weighted average remaining lease term (in years): |
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| Operating leases |
5.1 |
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3.0 |
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| Finance leases |
3.0 |
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3.6 |
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| Weighted average discount rate: |
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| Operating leases |
6.4 |
% |
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3.4 |
% |
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| Finance leases |
5.8 |
% |
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5.5 |
% |
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The following table summarizes the supplemental cash flow information for 2024 and 2023:
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Year Ended |
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December 31, 2024 |
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December 31, 2023 |
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| Cash paid for amounts included in the measurement of lease liabilities: |
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| Operating cash flows from operating leases |
$ |
114,574 |
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$ |
54,462 |
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| Operating cash flows from finance leases |
3,384 |
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1,395 |
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| Financing cash flows from finance leases |
18,323 |
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11,074 |
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| Right-of-use assets obtained in exchange for finance lease liabilities |
$ |
— |
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$ |
— |
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| Right-of-use assets obtained in exchange for operating lease liabilities |
153,009 |
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29,884 |
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| Leased assets obtained in exchange for finance lease obligations |
12,404 |
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25,217 |
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| Schedule of Aggregate Future Minimum Lease Payments Under Noncancelable Operating Leases |
Future minimum lease payments under noncancelable operating and finance leases with remaining terms greater than one year as of December 31, 2024 were as follows:
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Operating Leases |
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Finance Leases |
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| 2025 |
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120,844 |
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19,414 |
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| 2026 |
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102,130 |
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15,772 |
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| 2027 |
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78,133 |
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11,305 |
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| 2028 |
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64,976 |
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4,509 |
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2029 |
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53,885 |
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758 |
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| Thereafter |
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81,821 |
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184 |
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| Total minimum lease payments |
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501,789 |
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51,942 |
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| Less: imputed interest |
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(79,709) |
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(4,154) |
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| Present value of future minimum lease payments |
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422,080 |
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47,788 |
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| Less: current portion of lease obligations |
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(96,440) |
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(16,930) |
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| Long-term lease obligations |
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$ |
325,640 |
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$ |
30,858 |
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| Schedule of Aggregate Future Minimum Lease Payments Under Noncancelable Finance Leases |
Future minimum lease payments under noncancelable operating and finance leases with remaining terms greater than one year as of December 31, 2024 were as follows:
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Operating Leases |
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Finance Leases |
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| 2025 |
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120,844 |
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19,414 |
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| 2026 |
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102,130 |
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15,772 |
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| 2027 |
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78,133 |
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11,305 |
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| 2028 |
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64,976 |
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4,509 |
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2029 |
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53,885 |
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758 |
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| Thereafter |
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81,821 |
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184 |
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| Total minimum lease payments |
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501,789 |
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51,942 |
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| Less: imputed interest |
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(79,709) |
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(4,154) |
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| Present value of future minimum lease payments |
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422,080 |
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47,788 |
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| Less: current portion of lease obligations |
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(96,440) |
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(16,930) |
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| Long-term lease obligations |
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$ |
325,640 |
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$ |
30,858 |
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