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Property and Equipment, net | 3 Months Ended
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Mar. 31, 2026
Property, Plant and Equipment [Abstract] |
Property and Equipment, net | Property and Equipment, net As of March 31, 2026 and December 31, 2025, Property and equipment, net consisted of the following:
|  | As of
|  | March 31, 2026 |  | December 31, 2025
Buildings |  | $ | 2,272,944 |  |  | $ | 2,270,557 |
Equipment, furniture, and fixtures |  | 1,234,321 |  |  | 1,231,690 |
Leasehold improvements |  | 23,896 |  |  | 23,896 |
Construction in progress |  | 2,211 |  |  | 5,873 |
Total property and equipment, gross |  | 3,533,372 |  |  | 3,532,016 |
Less accumulated depreciation and amortization |  | (903,933) |  |  | (821,373) |
Property and equipment, net |  | $ | 2,629,439 |  |  | $ | 2,710,643 |
The property and equipment balances above include $127,512 and $130,061 of capital expenditure accruals (primarily related to Sphere construction) as of March 31, 2026 and December 31, 2025, respectively, which are reflected in Accrued expenses and other current liabilities in the accompanying condensed consolidated balance sheets. See Note 2. Summary of Significant Accounting Policies to the Audited Consolidated Financial Statements included in the Form 10-K for details on the Company’s estimated useful lives for each major category of property and equipment. The Company recorded depreciation expense on property and equipment of $82,711 and $82,629 for the three months ended March 31, 2026 and 2025, respectively, which is recognized in Depreciation and amortization in the accompanying condensed consolidated statements of operations.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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