Property, plant and equipment consist of the following as of March 31, 2026 and December 31, 2025 (in thousands):


	As of March 31,			As of December 31,
	2026			2025
Land	$	1,822		$	1,822
Buildings		3,293			3,257
Furniture and fixtures		6,363			5,983
Software		7,719			7,719
Machinery and equipment		1,132,072			1,049,872
Vehicles		6,194			6,192
Leasehold improvements		10,910			10,509
Construction in progress		5,875			3,175
Property, plant and equipment		1,174,248			1,088,529
Less: accumulated depreciation		(320,386	)		(290,995	)
Property, plant and equipment, net	$	853,862		$	797,534

The Company’s rental fleet included in machinery and equipment was $1.0 billion (approximately $730.3 million, net of accumulated depreciation) as of March 31, 2026 and $1.0 billion (approximately $735.4 million, net of accumulated depreciation) as of December 31, 2025.

Depreciation expenses for the three months ended March 31, 2026 and 2025 were approximately $29.4 million and $23.4 million, respectively.

The Company reviews long-lived tangible assets, including property, plant and equipment, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Such events and changes may include significant changes in performance relative to expected operating results, significant changes in asset use, significant negative industry or economic trends, and changes in our business strategy, among others. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to estimated future undiscounted net cash flows expected to be generated by the asset. Impairment losses are recognized in the period in which the impairment occurs and represent the excess of the asset carrying value over its fair value

estimated using future discounted net cash flows. No impairment was recorded for the three months ended March 31, 2026 and 2025.