Property, plant, and equipment consist of the following as of December 31, 2025 and 2024:

 

   2025   2024 
   Year Ended December 31, 
   2025   2024 
         
Displays  $319,524   $312,146 
Furniture and fixtures   825,156    720,657 
Leasehold improvements   2,125,454    1,991,953 
Computer hardware & equipment   230,185    209,029 
Other   751,401    710,682 
Property, plant and equipment gross   4,251,720    3,944,467 
Less: accumulated depreciation and amortization   (2,480,974)   (1,967,998)
Total property, plant, and equipment  $1,770,746   $1,976,469 

Historical Timeline

Fiscal YearFiled
2025Mar 16, 2026Showing above
2024Mar 28, 2025

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.