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Property and Equipment, Net

12 Months Ended

Dec. 31, 2019

Property and Equipment, Net [Abstract]

8.PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following:



	As of		As of
	December 31, 2019		December 31, 2018

	(in thousands)
Towers and related components	$	5,164,104	$	4,951,321
Construction-in-process ⁽¹⁾		33,644		35,756
Furniture, equipment, and vehicles ⁽²⁾		51,654		54,814
Land, buildings, and improvements		736,378		668,459
Total property and equipment		5,985,780		5,710,350
Less: accumulated depreciation ⁽²⁾		(3,191,178)		(2,923,995)
Property and equipment, net	$	2,794,602	$	2,786,355

(1)Construction-in-process represents costs incurred related to towers that are under development and will be used in the Company’s site leasing operations.

(2)Financing lease right-of-use assets are included in the prior period but are included in Right-of-use assets, net on the Consolidated Balance Sheets for the current period.

Depreciation expense was $281.6 million, $269.2 million, and $258.4 million for the years ended December 31, 2019, 2018, and 2017, respectively. At December 31, 2019 and 2018, non-cash capital expenditures that are included in accounts payable and accrued expenses were $14.7 million and $12.4 million, respectively.