Property and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

. PROPERTY AND EQUIPMENT, NET

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

	Estimated Useful Lives in Years	December 31,
		2017		2016
		(In thousands)
Land	—	$	482,600	$	400,163
Buildings	25 to 50	700,257		553,961
Leasehold improvements	varies	172,071		170,060
Machinery and equipment	7 to 20	117,781		100,164
Furniture and fixtures	3 to 10	100,881		87,691
Company vehicles	3 to 5	11,933		11,632
Construction in progress	—	41,824		66,658
Total		1,627,347		1,390,329
Less accumulated depreciation and amortization		308,388		264,446
Property and equipment, net		$	1,318,959	$	1,125,883

During 2017, the Company incurred $98.3 million of capital expenditures for the construction of new or expanded facilities and the purchase of equipment and other fixed assets in the maintenance of the Company’s dealerships and facilities, excluding $15.9 million of capital expenditures accrued as of December 31, 2016. As of December 31, 2017, the Company had accrued $8.8 million of capital expenditures. In addition, in 2017, the Company purchased real estate (including land and buildings) associated with existing dealership operations totaling $110.4 million. And, in conjunction with the acquisition of dealerships and franchises in 2017, the Company acquired $29.0 million of real estate and other property and equipment. The Company recognized $0.2 million in asset impairments related to property and equipment for the year ended December 31, 2017.

During 2016, the Company incurred $100.6 million of capital expenditures for the construction of new or expanded facilities and the purchase of equipment and other fixed assets in the maintenance of the Company’s dealerships and facilities, excluding $32.7 million of capital expenditures accrued as of December 31, 2015. As of December 31, 2016, the Company had accrued $15.9 million of capital expenditures. In addition, the Company purchased real estate (including land and buildings) associated with existing dealership operations totaling $39.1 million. And, in conjunction with the acquisition of dealerships and franchises in 2016, the Company acquired $28.8 million of real estate and other property and equipment. The Company recognized $2.8 million in asset impairments related to property and equipment for the year ended December 31, 2016.

Depreciation and amortization expense, including amortization of capital leases, totaled $57.9 million, $51.2 million and $47.2 million for the years ended December 31, 2017, 2016 and 2015, respectively. As of December 31, 2017 and 2016, $77.4 million and $68.9 million of buildings under capital leases were recorded as property and equipment, before accumulated depreciation, respectively.