Property and Equipment, Net

6 Months Ended

Jun. 30, 2020

Property and Equipment, Net [Abstract]

7.PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following:



	As of		As of
	June 30, 2020		December 31, 2019

	(in thousands)
Towers and related components	$	5,122,198	$	5,164,104
Construction-in-process ⁽¹⁾		33,046		33,644
Furniture, equipment, and vehicles		50,247		51,654
Land, buildings, and improvements		751,680		736,378
Total property and equipment		5,957,171		5,985,780
Less: accumulated depreciation		(3,298,282)		(3,191,178)
Property and equipment, net	$	2,658,889	$	2,794,602

(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.

Depreciation expense was $71.3 million and $69.5 million for the three months ended June 30, 2020 and 2019, respectively, and $143.2 million and $138.6 million for the six months ended June 30, 2020 and 2019, respectively. At June 30, 2020 and December 31, 2019, unpaid capital expenditures that are included in accounts payable and accrued expenses were $8.9 million and $14.7 million, respectively.