As of March 31, 2026 and December 31, 2025, net property, plant and equipment and leasehold intangibles consisted of the following.


(in thousands)	March 31, 2026		December 31, 2025
Land	$	538,001	$	544,824
Buildings and improvements	5,793,014		5,799,937
Furniture and equipment	1,269,993		1,259,410
Resident in-place lease intangibles	255,927		260,389
Construction in progress	36,277		35,788
Assets under financing leases and leasehold improvements	591,997		586,496
Property, plant and equipment and leasehold intangibles	8,485,209		8,486,844
Accumulated depreciation and amortization	(4,254,372)		(4,214,147)
Property, plant and equipment and leasehold intangibles, net	$	4,230,837	$	4,272,697

Long-lived assets with definite useful lives are depreciated or amortized on a straight-line basis over their estimated useful lives (or, in certain cases, the shorter of their estimated useful lives or the lease term) and are tested for impairment whenever indicators of impairment arise. The Company recognized depreciation and amortization expense on its property, plant and equipment and leasehold intangibles of $73.5 million and $91.0 million for the three months ended March 31, 2026 and 2025, respectively.

The Company recognized $6.1 million and $1.8 million for the three months ended March 31, 2026 and 2025, respectively, of non-cash impairment charges in its operating results for its property, plant and equipment and leasehold intangibles assets.

As of March 31, 2026, eight communities in the Assisted Living and Memory Care segment and one community in the CCRCs segment were classified as held for sale, resulting in $75.2 million of net property, plant and equipment and leasehold

intangibles assets being recognized as assets held for sale within the condensed consolidated balance sheet. Subsequent to March 31, 2026, the Company completed the sale of three owned communities for cash proceeds of $88 million, net of transaction costs. The closings of the sales of the additional communities are subject to the satisfaction of various closing conditions, including (where applicable) the receipt of regulatory approvals. There can be no assurance that the additional transactions will close or, if they do, when the actual closings will occur.