Property, Plant and Equipment

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment consisted of the following:

 

($ in thousands)	Estimated Useful Lives	September 30, 2024		December 31, 2023
Land		$	4,514	$	3,671
Land improvements	10 years	4,448		4,448
Buildings and structures	10 - 45 years	51,874		42,871
Cable and fiber	12 - 30 years	1,213,698		799,612
Equipment and software	4 - 12 years	395,661		331,595
Plant in service		1,670,195		1,182,197
Plant under construction		231,247		145,623
Total property, plant and equipment		1,901,442		1,327,820
Less: accumulated depreciation and amortization		(516,087)		(477,483)
Property, plant and equipment, net		$	1,385,355	$	850,337

Property, plant and equipment, net increased due primarily to capital expenditures driven by the Company’s assets acquired as a result of the Horizon Transaction and Glo Fiber market expansion. The Company’s accounts payable as of September 30, 2024 and December 31, 2023 included amounts associated with capital expenditures of approximately $61.6 million and $51.1 million, respectively. Depreciation and amortization expense was $27.2 million and $16.0 million during the three months ended September 30, 2024 and 2023, respectively, and $69.6 million and $46.7 million during the nine months ended September 30, 2024 and 2023, respectively.