Property and Equipment, Net

3 Months Ended

Mar. 31, 2026

Property, Plant, and Equipment [Abstract]

Property and Equipment, Net

Property and Equipment, Net

The table below presents the balances of major classes of assets and accumulated depreciation.

		As of
(in millions)	Estimated Useful Lives	March 31, 2026		December 31, 2025
Land		$	110.4	$	110.4
Buildings	15 to 35 years	49.4		49.0
Advertising structures	3 to 20 years	1,750.4		1,743.4
Furniture, equipment and other	3 to 10 years	198.9		194.2
Construction in progress		28.4		29.6
		2,137.5		2,126.6
Less: Accumulated depreciation		1,493.2		1,482.8
Property and equipment, net		$	644.3	$	643.8

Depreciation expense was $20.7 million in the three months ended March 31, 2026, and $23.6 million in the three months ended March 31, 2025.