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Property and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment

7. Property and Equipment

Property and equipment consisted of the following at December 31, 2024 and 2023 (in thousands):

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

Land

 

$

202,550

 

 

$

183,347

 

Building and improvements

 

 

2,326,108

 

 

 

2,064,353

 

Equipment

 

 

448,107

 

 

 

365,826

 

Construction in progress

 

 

772,505

 

 

 

420,430

 

 

 

 

3,749,270

 

 

 

3,033,956

 

Less: accumulated depreciation

 

 

(896,077

)

 

 

(767,346

)

Property and equipment, net

 

$

2,853,193

 

 

$

2,266,610

 

 

During the year ended December 31, 2024, the Company recorded non-cash property impairment charges of $12.4 million related to the closure of certain facilities, which is included in loss on impairment in the consolidated statements of operations. During the year ended December 31, 2023, the Company recorded non-cash property impairment charges of $2.0 million related to the closure of certain facilities, which is included in loss on impairment in the consolidated statements of operations.

The Company has recorded assets held for sale within other current assets on the consolidated balance sheets for closed properties actively marketed of $18.5 million and $11.5 million at December 31, 2024 and 2023, respectively.