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Property and Equipment
3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 5. PROPERTY AND EQUIPMENT

Property and equipment, net consisted of the following (in thousands):

 

 

 

March 31,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Land

 

$

288,617

 

 

$

313,030

 

Buildings and site improvements

 

 

344,589

 

 

 

360,473

 

Leasehold improvements

 

 

18,836

 

 

 

18,890

 

Equipment

 

 

351,512

 

 

 

363,767

 

Construction in progress

 

 

8,397

 

 

 

6,794

 

Property and equipment, at cost

 

 

1,011,951

 

 

 

1,062,954

 

Accumulated depreciation and amortization

 

 

(405,486

)

 

 

(406,654

)

Property and equipment, net

 

$

606,465

 

 

$

656,300

 

We recorded impairment charges of $8.8 million and $0.3 million during the three months ended March 31, 2025 and 2024, respectively, included within depreciation, amortization and accretion expenses on the statements of operations. These impairment charges were primarily related to sites initially classified within assets held for sale in connection with our ongoing real estate rationalization effort.