| Property and Equipment |
(4)Property and Equipment Property and equipment consisted of the following: | | | | | | | | | | | | | | | | | December 31, 2025 | | December 31, 2024 | | | | | | | Owned | | | | | | Owned | | | | | | | | | assets | | | | | | assets | | | | | | Owned | | available to | | | | Owned | | available to | | | | | | assets | | be leased | | Total | | assets | | be leased | | Total | | | | | amounts in thousands | | Land | | $ | 19,333 | | 47,500 | | 66,833 | | 18,583 | | 22,891 | | 41,474 | | Buildings and improvements | | | 281,657 | | 531,521 | | 813,178 | | 281,420 | | 481,276 | | 762,696 | | Leasehold improvements | | | 102,281 | | 70,405 | | 172,686 | | 85,293 | | 67,863 | | 153,156 | | Furniture and equipment | | | 190,249 | | 17,985 | | 208,234 | | 183,971 | | 9,850 | | 193,821 | | Construction in progress | | | 1,493 | | 3,606 | | 5,099 | | 6,865 | | 3,791 | | 10,656 | | Property and equipment, at cost | | $ | 595,013 | | 671,017 | | 1,266,030 | | 576,132 | | 585,671 | | 1,161,803 | |
Included within property and equipment is capitalized interest of $23.4 million as of both December 31, 2025 and 2024. Capitalized interest is recorded as part of an asset’s cost and depreciated over the asset’s useful life. Depreciation expense for the years ended December 31, 2025, 2024 and 2023 was $52.4 million, $44.2 million and $54.3 million, respectively.
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