As of December 31, 2025 and 2024, property, plant and equipment consisted of the following (in thousands):

Useful Life

  ​ ​ ​

(in Years)

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Telecommunications equipment and towers

 

2 -15

$

1,514,109

$

1,571,145

Office and computer equipment

 

3 -10

 

110,132

 

112,371

Buildings

 

15-39

 

101,763

 

100,533

Transportation vehicles

 

3 -10

 

21,151

 

20,335

Leasehold improvements

 

Shorter of useful
life or lease term

 

17,369

 

16,902

Land

 

 

26,066

 

25,887

Furniture and fixtures

 

5 -10

 

7,469

 

9,189

Total property, plant and equipment

 

1,798,059

 

1,856,362

Construction in progress

 

349,777

 

272,559

Total property, plant and equipment

 

2,147,836

 

2,128,921

Less: Accumulated depreciation

 

(1,156,069)

 

(1,088,728)

Net fixed assets

$

991,767

$

1,040,193

Historical Timeline

Fiscal YearFiled
2025Mar 16, 2026Showing above
2024Mar 17, 2025
2023Mar 15, 2024
2022Mar 15, 2023
2021Mar 16, 2022

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.