| Property and Equipment, net |
Note 7 - Property and Equipment, net Property and equipment, net consisted of the following: | | | | | | | | | | | | | | | | | | | | | | | Depreciable
Lives (in years) | | June 30, 2026 | | September 30, 2025 | | Land | | — | | $ | 25,601 | | | $ | 25,601 | | | Buildings and building improvements | | 3-30 | | 170,813 | | | 167,977 | | | Leasehold improvements | | 1-20 | | 133,162 | | | 101,002 | | | Training equipment | | 3-10 | | 120,854 | | | 101,809 | | | Office and computer equipment | | 3-10 | | 42,059 | | | 37,105 | | | Internally developed software | | 3-5 | | — | | | 13,395 | | | Internally developed curriculum | | 3-5 | | — | | | 5,721 | | | Vehicles | | 5 | | 1,094 | | | 1,167 | | | Right-of-use assets for finance leases | | 15 | | 5,603 | | | 5,603 | | | Construction in progress | | — | | 46,630 | | | 32,729 | | | Property and equipment, gross | | | | 545,816 | | | 492,109 | | | Less: Accumulated depreciation and amortization | | | | (207,052) | | | (206,257) | | | Property and equipment, net | | | | $ | 338,764 | | | $ | 285,852 | |
Depreciation expense related to property and equipment was $10.0 million and $27.1 million for the three and nine months ended June 30, 2026, and $8.1 million and $23.8 million for the three and nine months ended June 30, 2025.
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