Property and Equipment

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

. PROPERTY AND EQUIPMENT

The Company’s property and equipment consisted of the following:

	Estimated Useful Lives in Years	December 31,
		2015		2014
		(In thousands)
Land	—	$	364,475	$	328,474
Buildings	30 to 40	505,414		482,496
Leasehold improvements	varies	155,585		134,658
Machinery and equipment	7 to 20	90,993		87,728
Furniture and fixtures	3 to 10	82,688		77,581
Company vehicles	3 to 5	11,603		10,706
Construction in progress	—	58,361		32,115
Total		1,269,119		1,153,758
Less accumulated depreciation and amortization		235,138		203,370
Property and equipment, net		$	1,033,981	$	950,388

During 2015, the Company acquired $9.8 million of property and equipment associated with dealership acquisitions, including $8.5 million for land. In addition to these acquisitions, the Company incurred $107.2 million of capital expenditures for the purchase of furniture, fixtures, and equipment and construction or renovation of facilities, excluding $21.2 million of capital expenditures accrued as of December 31, 2014. During the year ended December 31, 2015, the Company accrued $32.7 million of capital expenditures. The Company also purchased real estate (including land and buildings) associated with existing dealership operations totaling $24.6 million.

As of December 31, 2015, the Company determined that certain real estate qualified as held-for-sale. As a result, the Company classified the carrying value of the real estate, totaling $1.4 million, in prepaid and other current assets in its Consolidated Balance Sheets.

During 2014, the Company acquired $80.5 million of property and equipment associated with dealership acquisitions, including $34.2 million for land and $41.0 million for buildings. In addition to these acquisitions, the Company incurred $97.7 million of capital expenditures for the purchase of furniture, fixtures, and equipment and construction or renovation of facilities, excluding $11.2 million of capital expenditures accrued as of December 31, 2013. During the year ended December 31, 2014, the Company accrued $21.2 million of capital expenditures. The Company also purchased real estate (including land and buildings) associated with existing dealership operations totaling $62.7 million.

As of December 31, 2014, the Company determined that certain real estate qualified as held-for-sale. As a result, the Company classified the carrying value of the real estate, totaling $4.0 million, in prepaid and other current assets in its Consolidated Balance Sheets.

Depreciation and amortization expense, including amortization of capital leases, totaled $47.2 million, $42.3 million, and $35.8 million for the years ended December 31, 2015, 2014, and 2013, respectively. As of December 31, 2015 and 2014, $69.6 million, and $67.5 million of buildings under capital leases were recorded as property and equipment, before accumulated depreciation, respectively.