Property and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

The components of property and equipment were the following:

	December 31,
(in thousands)	2023		2022
Land and land improvements	$	44,978	$	37,335
Construction in progress and software under development	98,310		76,700
Computer equipment and software	261,287		243,436
Buildings and leasehold improvements	305,485		261,669
Furniture, fixtures, vehicles and equipment	63,917		61,489
Property and equipment	773,977		680,629
Less: Accumulated depreciation and amortization	(280,499)		(253,323)
Property and equipment, net	$	493,478	$	427,306

For the years ended December 31, 2023, 2022, and 2021, depreciation expense, excluding the activity attributable to other expenses from franchised and managed properties, was $20.9 million, $14.5 million, and $16.5 million, respectively.

As of December 31, 2023 and 2022, unamortized capitalized software development costs were $50.3 million and $58.5 million, respectively. For the years ended December 31, 2023, 2022, and 2021, the amortization of capitalized software development costs was $30.3 million, $26.6 million, and $14.1 million, respectively, which is included in the other expenses from franchised and managed properties and depreciation and amortization line items in the consolidated statements of income.