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Property and Equipment (Tables) | 3 Months Ended
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Mar. 31, 2024
Property, Plant and Equipment [Abstract] |
Schedule of Property and Equipment, Net | 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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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1 + Details
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