PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

4. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment and related accumulated depreciation consists of the following at December 31, 2025 and December 31, 2024:

	As of December 31,
	2025		2024
Land	$	26,057	$	29,032
Buildings and Improvements	162,898		173,432
Furniture and Fixtures	21,516		21,326
Computer Equipment and Software	29,294		28,525
Leasehold Improvements	282,719		268,836
Tools and Equipment	99,635		98,133
Vehicles	4,391		4,341
Assets Under Construction (1)	100,173		96,981
Total Property, Plant and Equipment, Gross	726,683		720,606
Less: Accumulated Depreciation	(234,210)		(182,642)
Property, Plant and Equipment, Net	$	492,473	$	537,964

(1)Assets under construction represent construction in progress related to facilities not yet completed or otherwise not placed in service.

A reconciliation of the beginning and ending balances of property, plant and equipment is as follows:

	Property, Plant and Equipment, Gross		Accumulated Depreciation		Property, Plant and Equipment, Net
Balance as of January 1, 2024	$	636,433	$	(135,129)	$	501,304
Additions	118,364		—		118,364
Property, plant and equipment from business combination	26,308		—		26,308
Disposals and other	(47,746)		4,571		(43,175)
Impairment	(12,753)		2,227		(10,526)
Depreciation	—		(54,311)		(54,311)
Balance as of December 31, 2024	$	720,606	$	(182,642)	$	537,964
Additions	29,185		—		29,185
Disposals and other	(22,338)		7,283		(15,055)
Impairment	(770)		342		(428)
Depreciation	—		(59,193)		(59,193)
Balance as of December 31, 2025	$	726,683	$	(234,210)	$	492,473

For the years ended December 31, 2025 and December 31, 2024, depreciation expense included in costs of goods sold totaled $39,399 and $36,869, respectively. For the years ended December 31, 2025 and December 31, 2024, depreciation expense included in selling, general, and administrative expense totaled $19,794 and 17,442, respectively. During the year ended December 31, 2025, the Company recorded a fixed asset impairment charge of $428 associated with a Massachusetts cultivation facility. During the year ended December 31, 2024, the Company recorded a fixed asset impairment charge of $10,526 associated with an Arizona cultivation facility.