v3.26.1
Property and Equipment, net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment, net Property and Equipment, net
As of June 30, 2026 and December 31, 2025, Property and equipment, net consisted of the following: 
As of
June 30,
2026		December 31,
2025
Buildings$2,275,625 $2,270,557 
Equipment, furniture, and fixtures1,236,350 1,231,690 
Leasehold improvements23,896 23,896 
Construction in progress692 5,873 
Total property and equipment, gross3,536,563 3,532,016 
Less accumulated depreciation and amortization(986,485)(821,373)
Property and equipment, net$2,550,078 $2,710,643 
The property and equipment balances above include $116,026 and $130,061 of capital expenditure accruals (primarily related to Sphere construction) as of June 30, 2026 and December 31, 2025, respectively, which are reflected in Accrued expenses and other current liabilities in the accompanying condensed consolidated balance sheets. See Note 2. Summary of Significant Accounting Policies to the Audited Consolidated Financial Statements included in the Form 10-K for details on the Company’s estimated useful lives for each major category of property and equipment.

The Company recorded depreciation expense on property and equipment of $82,651 and $165,362 for the three and six months ended June 30, 2026, respectively, and $82,251 and $164,880 for the three and six months ended June 30, 2025, respectively, which is recognized in Depreciation and amortization in the accompanying condensed consolidated statements of operations.