PROPERTY AND EQUIPMENT

6 Months Ended

Jul. 31, 2025

Property, Plant and Equipment [Abstract]


	July 31, 2025		January 31, 2025
	(in thousands)
Rental fleet equipment	$	71,511	$	76,447
Machinery and equipment	39,140		38,306
Vehicles	120,922		114,402
Furniture and fixtures	31,175		29,840
Land, buildings, and leasehold improvements	294,189		288,761
	556,937		547,756
Less accumulated depreciation	(179,040)		(168,066)
	$	377,897	$	379,690

The Company includes depreciation expense related to its rental fleet and its trucking fleet for hauling equipment in Cost of Revenue in the Condensed Consolidated Statements of Operations, which was $2.2 million and $2.4 million for the three months ended July 31, 2025 and 2024, respectively, and $4.1 million and $4.3 million for the six months ended July 31, 2025 and 2024, respectively. All other depreciation expense is included in Operating Expenses in the Condensed Consolidated Statements of Operations, which was $6.2 million and $6.1 million for the three months ended July 31, 2025 and 2024, respectively, and $12.3 million and $12.2 million for the six months ended July 31, 2025 and 2024, respectively

Titan Machinery Inc. 10-Q