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Property and Equipment
6 Months Ended
Jun. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment

Note 5. PROPERTY AND EQUIPMENT

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

 

 

 

June 30,

 

 

December 31,

 

 

 

2025

 

 

2024

 

Land

 

$

279,760

 

 

$

313,030

 

Buildings and site improvements

 

 

338,599

 

 

 

360,473

 

Leasehold improvements

 

 

19,237

 

 

 

18,890

 

Equipment

 

 

340,866

 

 

 

363,767

 

Construction in progress

 

 

7,852

 

 

 

6,794

 

Property and equipment, at cost

 

 

986,314

 

 

 

1,062,954

 

Accumulated depreciation and amortization

 

 

(399,735

)

 

 

(406,654

)

Property and equipment, net

 

$

586,579

 

 

$

656,300

 

We recorded impairment charges of $6.1 million and $0.2 million during the three months ended June 30, 2025 and 2024, and $14.9 million and $0.5 million during the six months ended June 30, 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.