PROPERTY, PLANT, AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property, plant, and equipment are recorded at cost, net of accumulated depreciation and impairments. Costs of routine maintenance and repair are recognized as expenses when incurred.

The Company capitalizes certain qualified costs incurred in connection with the development of software used internally. Costs incurred during the application development stage are evaluated to determine whether the costs meet the criteria for capitalization. Costs related to preliminary project activities and post implementation activities that are not incremental upgrades, including maintenance, are recognized as expenses as incurred.

Property, plant, and equipment are primarily depreciated using the straight-line method over the estimated useful life of the asset. Land is not depreciated.

The following table summarizes the components of “Property, plant, and equipment, net” on the Consolidated Balance Sheets (in millions):


	Estimated Useful Lives	December 31, 2024		December 31, 2025
Computer equipment, hardware, and software	3 to 5 years	$	610	$	699
Land, buildings, and building improvements	10 to 40 years	1,085		1,261
Leasehold improvements	Shorter of 10 years or lease term	502		634
Machinery, equipment, vehicles, and office furniture	2 to 10 years	3,925		4,152
Construction in progress		621		1,712
Total property, plant, and equipment		6,743		8,458
Accumulated depreciation and amortization		(2,778)		(3,339)
Total property, plant, and equipment, net		$	3,965	$	5,119

Depreciation and amortization expense for property, plant, and equipment was $917 million, $1,000 million, and $740 million for the years ended December 31, 2023, 2024 and 2025, respectively.

Rivian Automotive, Inc. / DE 10-K