v3.26.1
PROPERTY, EQUIPMENT AND FACILITIES
 6 Months Ended
Jun. 30, 2026
PROPERTY, EQUIPMENT AND FACILITIES [Abstract]  
PROPERTY, EQUIPMENT AND FACILITIES
6.
PROPERTY, EQUIPMENT AND FACILITIES
 
As of June 30, 2026 and December 31, 2025, property, equipment and facilities consisted of the following:
 
             
     Useful life      June 30,      December 31,  
     (years)      2026      2025  
Land
   -    $52   $52 
Buildings and improvements
  1-25    189,705    183,770 
Equipment, furniture and fixtures
  1-7    124,720    119,681 
Vehicles
  3    2,078    1,979 
Construction in progress
   -     34,964    14,188 
         351,519    319,670 
Less accumulated depreciation and amortization
       (160,833)    (148,067) 
        $190,686   $171,603 
 
Property, equipment and facilities are recorded at cost, with depreciation expense included in our educational services and facilities and selling, general and administrative expenses in our Condensed Consolidated Statements of Operations.
 
The increase in property, equipment and facilities was driven by several factors, including a $20.9 million investment relating primarily to the build-out of the new campuses in Hicksville, New York and Rowlett, Texas; $3.8 million in new and expanded programs at various campuses; and $8.5 million in facilities upgrades, training materials, and equipment, including security and campus upgrades and refurbishments. Depreciation and amortization expense of property, equipment and facilities was $7.8 million and $4.7 million for the three months ended June 30, 2026 and 2025, respectively, and $15.4 million and $8.5 million for the six months ended June 30, 2026 and 2025, respectively, which includes amortization of finance leases of $0.4 million for the three-month periods and $0.8 million for the six-month periods, respectively.