v3.25.4
Property and Equipment
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
As of December 31, 2025 and 2024, property and equipment, net consists of the following (in thousands):
 December 31,
Asset Lives20252024
Land
NA
$75,952 $73,405 
Land improvements
5 to 20 years
36,313 31,764 
Buildings and building improvements
10 to 40 years
1,007,562 989,054 
Furniture and equipment
5 to 10 years
76,098 66,600 
Automobiles
5 to 7 years
3,486 2,923 
Other—2,794 5,607 
Construction in progressNA1,463 1,039 
     Total property and equipment$1,203,668 $1,170,392 
Less accumulated depreciation and amortization(467,480)(430,508)
Property and equipment, net$736,188 $739,884 
_____________________________________
As of December 31, 2025 and 2024, depreciation expense was $46.7 million and $40.8 million, respectively. As of December 31, 2025 and 2024, property and equipment, net included $0.7 million and $2.2 million, respectively, of capital expenditures which had been incurred but not yet paid.
During the year ended December 31, 2025, the Company recognized non-cash impairment charges to “Property and equipment, net” of $12.5 million. See “Note 5–Impairment of Long–Lived Assets.”