PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2025

Property, Plant and Equipment [Abstract]

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


	March 31, 2025		December 31, 2024
Land	$	184,361	$	184,191
Asset retirement costs (non-landfill)	39,268		38,705
Landfill assets	259,129		258,138
Buildings and improvements (1)	718,973		719,439

Vehicles (2)	1,500,145		1,455,530
Equipment (3)	2,607,003		2,600,085

Construction in progress	73,565		70,305
	5,382,444		5,326,393
Less - accumulated depreciation and amortization	2,918,824		2,878,452
Total property, plant and equipment, net	$	2,463,620	$	2,447,941

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(1) Balances inclusive of gross right-of-use (“ROU”) assets classified as finance leases of $8.0 million in both periods.

(2) Balances inclusive of gross ROU assets classified as finance leases of $258.2 million and $230.5 million, respectively.

(3) Balances inclusive of gross ROU assets classified as finance leases of $9.2 million in both periods.

Depreciation expense, inclusive of landfill and finance lease amortization, was $98.7 million and $82.2 million for the three months ended March 31, 2025 and March 31, 2024, respectively. For the three months ended March 31, 2025, capitalized interest recorded by the Company was negligible. For the three months ended March 31, 2024, the Company recorded $2.5 million of capitalized interest mainly due to the construction of the new incinerator in Kimball, Nebraska.