| Schedule of Property and Equipment |
Property and equipment consists of the following: | | | | | | | | | | | | | | | | | | | | | Successor | | | Useful Life (years) | | December 31, 2025 | | December 31, 2024 | | Land | | | $ | 6,179 | | | $ | 5,950 | | | Buildings and leasehold improvements | 25 | | 25,364 | | | 19,308 | | | Computer, software, and office equipment | 3 – 5 | | 23,279 | | | 2,917 | | | Machinery and equipment | 3 – 10 | | 181,437 | | | 122,932 | | | Vehicles, aircrafts and vessels | 5 – 15 | | 96,192 | | | 53,154 | | | Construction in progress | | | 11,238 | | | 6,878 | | | Total property and equipment | | | 343,689 | | | 211,139 | | | Accumulated depreciation | | | (88,064) | | | (21,906) | | | Property and equipment, net | | | $ | 255,625 | | | $ | 189,233 | |
Total depreciation expense for property and equipment was recognized as follows for the following periods: | | | | | | | | | | | | | | | | | | | | | | | | | | | | Successor | | | Predecessor | | | Year Ended December 31, 2025 | | July 30 through December 31, 2024 | | | January 1 through July 29, 2024 | | Year Ended December 31, 2023 | Cost of revenue | $ | 68,238 | | | $ | 25,282 | | | | $ | 22,123 | | | $ | 54,504 | | Selling, general and administrative expenses | 5,951 | | | 237 | | | | 222 | | | 898 | | Total depreciation expense | $ | 74,189 | | | $ | 25,519 | | | | $ | 22,345 | | | $ | 55,402 | |
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