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Property and Equipment | 3 Months Ended
--- | ---
Mar. 31, 2024
Property, Plant and Equipment [Abstract] |
Property and Equipment | NOTE 6 — Property and Equipment Property and equipment, net consists of the following:
(in thousands) |  | Useful Life (Years) |  | March 31, 2024 |  | December 31, 2023
Software |  | 3 |  | $ | 7,175 |  |  | $ | 7,212 |
Equipment and fixtures |  | 3 | — | 7 |  | 173,890 |  |  | 157,352 |
Leasehold improvements |  | 5 | — | 15 |  | 45,800 |  |  | 42,441 |
Buildings |  | 10 | — | 20 |  | 321,809 |  |  | 269,186 |
Land |  | N/A |  | 7,781 |  |  | 7,338 |
Aircraft 1 |  | N/A |  | 9,195 |  |  | 9,195 |
Construction-in-progress 2 |  | N/A |  | 149,988 |  |  | 166,054 |
Property and equipment, gross |  |  |  |  |  | 715,638 |  |  | 658,778 |
Less: accumulated depreciation |  |  |  |  |  | (130,367) |  |  | (116,338) |
Property and equipment, net |  |  |  |  |  | $ | 585,271 |  |  | $ | 542,440 |
_______________ 1 Aircraft is depreciated under the consumption method. 2 Construction-in-progress primarily consists of construction and equipment costs for new and existing shops, as well as our new roasting facility in Texas. Depreciation expense included in the Company’s condensed consolidated statements of operations was as follows:
|  |  |  | Three Months Ended March 31,
(in thousands) |  |  |  |  |  | 2024 |  | 2023 |  |
Cost of sales |  |  |  |  |  | $ | 13,918 |  |  | $ | 9,110 |  |  |
Selling, general and administrative expenses |  |  |  |  |  | 248 |  |  | 412 |  |  |
Total depreciation expense |  |  |  |  |  | $ | 14,166 |  |  | $ | 9,522 |  |  |

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