v3.26.1
Property and Equipment
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consisted of the following at March 31, 2026 and December 31, 2025 (in thousands):
March 31, 2026December 31, 2025
Equipment$8,161,093 $8,224,950 
Oil and natural gas properties249,703 248,088 
Buildings and improvements229,004 235,621 
Rental equipment144,339 155,385 
Land and improvements36,262 39,591 
Total property and equipment8,820,401 8,903,635 
Less accumulated depreciation, depletion, amortization and impairment(6,192,473)(6,192,598)
Property and equipment, net$2,627,928 $2,711,037 
Depreciation, depletion, amortization and impairment — The following table summarizes depreciation, depletion, amortization and impairment expense related to property and equipment and intangible assets for the three months ended March 31, 2026 and 2025 (in thousands):
Three Months Ended
March 31, 2026March 31, 2025
Depreciation expense$185,291 $197,482 
Amortization expense31,834 30,846 
Depletion expense1,269 1,865 
Impairment expense— 1,673 
Total$218,394 $231,866 
We review our long-lived assets, including property and equipment and definite-lived intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts of certain assets may not be recovered over their
estimated remaining useful lives (a “triggering event”). As of March 31, 2026, we concluded no triggering event that could indicate possible impairment of property and equipment had occurred.