Property and Equipment, Net

3 Months Ended

Mar. 31, 2022

Property and Equipment, Net [Abstract]

Property and Equipment, Net

7.PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following:

	As of		As of
	March 31, 2022		December 31, 2021
	(in thousands)
Towers and related components (1)	$	5,492,277	$	5,323,803
Construction-in-process (2)		54,487		47,565
Furniture, equipment, and vehicles		61,981		59,939
Land, buildings, and improvements		856,639		848,051
Total property and equipment		6,465,384		6,279,358
Less: accumulated depreciation		(3,790,705)		(3,703,871)
Property and equipment, net	$	2,674,679	$	2,575,487

(1)Includes amounts related to our data centers.

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

Depreciation expense was $68.1 million and $71.5 million for the three months ended March 31, 2022 and 2021, respectively. At March 31, 2022 and December 31, 2021, unpaid capital expenditures that are included in accounts payable and accrued expenses were $9.2 million and $7.3 million, respectively.