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Property and Equipment (Tables)

3 Months Ended

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

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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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- References

No definition available.

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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

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