PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

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

	March 31, 2024		December 31, 2023
Land	$	184,242	$	174,891
Asset retirement costs (non-landfill)	27,155		27,167
Landfill assets	252,816		253,180
Buildings and improvements (1)	639,514		630,525
Vehicles (2)	1,345,995		1,276,567
Equipment (3)	2,391,075		2,388,370
Construction in progress	263,878		213,601
	5,104,675		4,964,301
Less - accumulated depreciation and amortization	2,774,191		2,770,983
Total property, plant and equipment, net	$	2,330,484	$	2,193,318

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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 $175.0 million and $151.7 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 $82.2 million and $72.0 million for the three months ended March 31, 2024 and March 31, 2023, respectively. The Company recorded $2.5 million and $1.2 million of capitalized interest during the three months ended March 31, 2024 and March 31, 2023, respectively, mainly attributable to the construction of a new incinerator in Kimball, Nebraska.