PROPERTY AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2012

6.	PROPERTY AND EQUIPMENT, NET

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


	As of June 30, 2012			As of December 31, 2011
	(in thousands)
Towers and related components	$	3,136,857		$	2,587,897
Construction-in-process		31,822			23,076
Furniture, equipment and vehicles		32,163			29,711
Land, buildings and improvements		185,909			168,988

		3,386,751			2,809,672
Less: accumulated depreciation		(1,319,986	)		(1,226,279	)

Property and equipment, net	$	2,066,765		$	1,583,393

Construction-in-process represents costs incurred related to towers that are under development and will be used in the Company’s site leasing segment. Depreciation expense was $52.7 million and $43.6 million for the three months ended June 30, 2012 and 2011, respectively, and $98.4 million and $86.4 million for the six months ended June 30, 2012 and 2011, respectively. At June 30, 2012 and December 31, 2011, non-cash capital expenditures that are included in accounts payable and accrued expenses were $10.1 million and $7.2 million, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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