| Property, Plant and Equipment |
At June 30, 2026 and December 31, 2025, property and equipment consisted of the following:
|
|
|
|
|
|
|
June 30, 2026 |
|
December 31, 2025 |
|
|
(in thousands) |
Buildings and improvements |
$ |
366,839 |
$ |
361,898 |
Equipment, computers and furniture |
|
246,169 |
|
230,532 |
Leasehold improvements |
|
290,124 |
|
277,518 |
Land |
|
35,646 |
|
35,207 |
Land improvements |
|
6,133 |
|
6,312 |
Assets under construction |
|
33,155 |
|
22,854 |
Capitalized interest |
|
35,426 |
|
34,763 |
Total property and equipment |
|
1,013,492 |
|
969,084 |
Less: accumulated depreciation |
|
(317,784) |
|
(278,191) |
Property and equipment, net |
$ |
695,708 |
$ |
690,893 |
|
| Interest Cost Incurred and Capitalized |
Interest cost incurred and capitalized during the three and six months ended June 30, 2026 and 2025 was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
2026 |
|
2025 |
|
|
2026 |
|
2025 |
|
|
(in thousands) |
|
|
(in thousands) |
Interest expense incurred |
$ |
6,438 |
$ |
5,610 |
|
$ |
11,923 |
$ |
11,257 |
Less: interest expense capitalized |
|
(343) |
|
(564) |
|
|
(663) |
|
(1,346) |
Interest expense recognized in operations |
$ |
6,095 |
$ |
5,046 |
|
$ |
11,260 |
$ |
9,911 |
|