Property and Equipment, net

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

Note 9. Property and Equipment, net

Property and equipment, net consists of the following (in thousands):


	March 31, 2025		December 31, 2024
Office equipment	$	23,825	$	23,710
Laboratory equipment	234,925		229,797
Computer equipment	159,805		156,859
Land	15,531		15,395
Building and leasehold improvements	602,465		597,342
Operating lease right-of-use assets	22,263		22,230
Construction in progress	50,176		46,062
	1,108,990		1,091,395
Less accumulated depreciation and amortization	(343,631)		(327,984)
Property and equipment, net	$	765,359	$	763,411

In May 2024, we purchased additional property in Wilmington, Delaware, including land, office buildings and parking garages for a purchase price of $48.7 million. During the year ended December 31, 2024, we capitalized $4.9 million of land and $19.5 million of building and parking garage. As of March 31, 2025 we have $33.9 million of construction in progress relating to the downtown Wilmington properties.