v3.26.1
Property and Equipment, Net
 6 Months Ended
Jun. 30, 2026
Property, Plant, and Equipment [Abstract]  
Property and Equipment, Net

NOTE 6. PROPERTY AND EQUIPMENT, NET

Property and equipment, net as of June 30, 2026, December 31, 2025, and June 30, 2025, consisted of the following:

(in thousands)

 

June 30, 2026

 

 

December 31, 2025

 

 

June 30, 2025

 

Land and land interests

 

$

41,083

 

 

$

39,808

 

 

$

31,799

 

Buildings and leasehold improvements

 

 

489,807

 

 

 

520,321

 

 

 

459,377

 

Equipment and other

 

 

272,961

 

 

 

333,481

 

 

 

291,082

 

Gross property and equipment

 

 

803,851

 

 

 

893,610

 

 

 

782,258

 

Accumulated depreciation

 

 

(253,742

)

 

 

(296,768

)

 

 

(278,053

)

Property and equipment, net (excluding finance leases)

 

 

550,109

 

 

 

596,842

 

 

 

504,205

 

Finance lease right-of-use assets, net

 

 

40,157

 

 

 

52,488

 

 

 

54,184

 

Property and equipment, net

 

$

590,266

 

 

$

649,330

 

 

$

558,389

 

 

Depreciation expense was $8.7 million and $17.3 million during the three and six months ended June 30, 2026, respectively. Depreciation expense was $9.7 million and $19.5 million during the three and six months ended June 30, 2025, respectively.