Property And Equipment, Net

6 Months Ended

Jun. 30, 2015

Property And Equipment, Net [Abstract]

7.PROPERTY AND EQUIPMENT, NET

Property and equipment, net (including assets held under capital leases) consists of the following:



	As of		As of
	June 30, 2015		December 31, 2014

	(in thousands)
Towers and related components	$	4,285,661	$	4,194,375
Construction-in-process		32,150		35,855
Furniture, equipment, and vehicles		54,329		51,832
Land, buildings, and improvements		494,971		426,974
Total property and equipment		4,867,111		4,709,036
Less: accumulated depreciation		(2,079,647)		(1,946,619)
Property and equipment, net	$	2,787,464	$	2,762,417

Construction-in-process represents costs incurred related to towers that are under development and will be used in the Company’s site leasing operations. Depreciation expense was $71.6 million and $71.7 million for the three months ended June 30, 2015 and 2014, respectively, and $152.0 million and $140.7 million for the six months ended June 30, 2015 and 2014, respectively. At June 30, 2015 and December 31, 2014, non-cash capital expenditures that are included in accounts payable and accrued expenses were $10.6 million and $29.0 million, respectively.