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PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT
Property and equipment consists of the following:
December 31,
(in thousands)20252024
Leasehold improvements$219,389 $202,548 
Buildings213,781 84,712 
Furniture, fixtures, and equipment92,168 78,775 
Construction in progress9,634 5,555 
Land5,782 5,782 
Property and equipment, gross540,754 377,372 
Less: accumulated depreciation158,352 116,911 
Property and equipment, net$382,402 $260,461 
Total depreciation expense was $41,569, $36,799, and $34,171 during 2025, 2024, and 2023, respectively. Total depreciation expense capitalized to inventory was $27,663, $25,904, and $25,436 during 2025, 2024, and 2023, respectively. At December 31, 2025 and 2024, $1,966 and $3,174, respectively, of depreciation expense remained capitalized as part of inventory.
The table above includes the following amounts related to finance leases:
December 31,
(in thousands)20252024
Buildings$128,859 $— 
Vehicles(1)
2,801 2,410 
Equipment(1)(2)
2,321 2,321 
133,981 4,731 
Less: accumulated amortization(3)
5,249 1,521 
Total(4)
$128,732 $3,210 
(1)Included within “Furniture, fixtures, and equipment.”
(2)Equipment leased pursuant to a master lease agreement that was entered into in June 2022, which provided for up to $15,000 in aggregate, pursuant to individual lease agreements.
(3)Included within “Accumulated depreciation.” Disposals and write offs of accumulated amortization during 2025 were not material.
(4)Refer to Note 10, “Leases,” for additional information regarding our lease arrangements.
Disposals and write offs of accumulated depreciation during 2025 and 2024 were not material. During 2025, we recognized an $800 gain associated with the sale of a piece of equipment that was previously written off, which is included within “General and administrative expenses” on the Consolidated Statements of Operations. During 2023, we recognized a loss of $323 related to the sale of one property that is included within “General and administrative expenses” and wrote-off $317 of accumulated depreciation. Refer to Note 10, “Leases,” for additional information regarding this sale leaseback transaction. Additionally, during 2023 the Company wrote-off $1,484 of certain construction in progress projects, which is included within “General and administrative expenses” on the Consolidated Statements of Operations and within “Other” on the Consolidated Statements of Cash Flows.