| PROPERTY, PLANT AND EQUIPMENT, NET |
4. PROPERTY, PLANT AND EQUIPMENT, NET Property, plant and equipment, net is summarized as follows: | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Land, site improvements and rights | $ | 360,555 | | | $ | 513,835 | | | Buildings and improvements | 39,322 | | | 72,997 | | | Bridges and tunnels | 968,640 | | | 969,551 | | | Terminal machinery and equipment | 1,301,890 | | | 1,357,502 | | | Proved oil and gas properties | — | | | 304,716 | | | Unproved oil and gas properties | — | | | 144,455 | | | Power plant | — | | | 850,489 | | | Track and track related assets | 347,848 | | | 335,850 | | | Railroad equipment | 4,238 | | | 9,694 | | | Railcars and locomotives | 181,955 | | | 181,892 | | | Computer hardware and software | 22,408 | | | 22,532 | | | Furniture and fixtures | 2,246 | | | 2,246 | | | Construction in progress | 360,745 | | | 263,495 | | | Other | 29,591 | | | 30,029 | | | 3,619,438 | | | 5,059,283 | | | Less: Accumulated depreciation | (483,898) | | | (477,512) | | | Property, plant and equipment, net | $ | 3,135,540 | | | $ | 4,581,771 | |
Amounts in the above table do not include assets classified as held for sale on the Consolidated Balance Sheet as of June 30, 2026 (refer to Note 2 for additional details). Depreciation expense for property, plant and equipment is summarized as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | Depreciation expense | $ | 38,021 | | | $ | 32,576 | | | $ | 87,230 | | | $ | 56,182 | | | | | | | | | |
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