v3.25.4
Property and Equipment, Net
 12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net, consisted of the following:
As of December 31,
20252024
(in thousands)
Computer hardware and software$65,466 $67,796 
Buildings21,486 21,486 
Leasehold improvements560,551 450,826 
Furniture and equipment259,673 214,619 
Construction in progress41,301 63,284 
Total948,477 818,011 
Less: accumulated depreciation(370,402)(328,923)
Property and equipment, net$578,075 $489,088 
Depreciation on property and equipment was $118.1 million, $98.0 million, and $87.3 million for the years ended December 31, 2025, 2024, and 2023, respectively. Noncash property and equipment additions in accounts payable, accrued
expenses and other current liabilities were $32.5 million, $29.3 million, and $44.5 million for the years ended December 31, 2025, 2024, and 2023, respectively