Note 4 - Cost of Construction and Constructed Assets

6 Months Ended

Jun. 30, 2026

Notes to Financial Statements

Cost of Construction and Constructed Assets [Text Block]

4.	Cost of Construction and Constructed Assets

Constructed assets, net, and cost of construction, consists of the following:

		*June 30, 2026*				*December 31, 2025*
Constructed assets, net of accumulated depreciation:
Buildings: ADS Phase I, APA Phase I, BNA, CMA, DVT Phase I, OPF, SGR, and SJC Renovation		$	322,189			$	277,473
Accumulated depreciation			(13,035	)			(9,786	)
		$	309,154			$	267,687
Cost of construction:
ADS Phase II, BDL Phase I, HIO Phase I, IAD Phase I, ORL Phase I, POU Phase I, PWK Phase I, SLC Phase I, and TTN Phase I		$	84,163			$	60,837

Depreciation expense for the three and six months ended June 30, 2026 totaled approximately $1.7 million and $3.2 million, respectively. Depreciation expense for the three and six months ended June 30, 2025 totaled approximately $1.2 million and $2.0 million, respectively.