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Property and Equipment, Net
3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net
9.
Property and Equipment, Net

Property and equipment consisted of the following at March 31, 2025 and December 31, 2024 (in thousands):

 

 

 

March 31, 2025

 

 

December 31, 2024

 

 

Useful life
(years)

Buildings and leasehold improvements

 

$

108,460

 

 

$

103,945

 

 

1-15

Furniture and equipment

 

 

86,722

 

 

 

84,720

 

 

3-10

Computer systems and equipment

 

 

175,743

 

 

 

172,437

 

 

3-10

Construction equipment

 

 

12,093

 

 

 

6,463

 

 

5-7

Construction in progress

 

 

32,208

 

 

 

30,342

 

 

 

 

 

 

415,226

 

 

 

397,907

 

 

 

Accumulated depreciation

 

 

(293,473

)

 

 

(286,332

)

 

 

Property and equipment, net

 

$

121,753

 

 

$

111,575

 

 

 

 

Depreciation expense for the three months ended March 31, 2025 and March 31, 2024 was $9.1 million and $9.4 million, respectively.