Property And Equipment, Net

9 Months Ended

Sep. 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
	September 30, 2015		December 31, 2014

	(in thousands)
Towers and related components	$	4,264,917	$	4,194,375
Construction-in-process		29,360		35,855
Furniture, equipment, and vehicles		55,500		51,832
Land, buildings, and improvements		507,131		426,974
Total property and equipment		4,856,908		4,709,036
Less: accumulated depreciation		(2,136,034)		(1,946,619)
Property and equipment, net	$	2,720,874	$	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 $72.8 million and $73.0 million for the three months ended September 30, 2015 and 2014, respectively, and $224.9 million and $213.7 million for the nine months ended September 30, 2015 and 2014, respectively. At September 30, 2015 and December 31, 2014, non-cash capital expenditures that are included in accounts payable and accrued expenses were $11.4 million and $29.0 million, respectively.