Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net

4. Property, Plant and Equipment

Property, plant and equipment consist of the following:

	December 31,		December 31,
	2020		2019
	(in millions)
Distribution facilities	$	1,960.0	$	1,780.7
Customer premise equipment		481.5		460.1
Head-end equipment		364.3		341.2
Telephony infrastructure		99.3		97.9
Computer equipment and software		163.9		146.4
Vehicles		35.9		37.0
Buildings and leasehold improvements		49.7		49.5
Office and technical equipment		34.8		33.5
Land		6.2		6.2
Construction in progress (including material inventory and other)		50.5		61.2
Total property, plant and equipment		3,246.1		3,013.7
Less accumulated depreciation		(2,145.8)		(1,940.0)
	$	1,100.3	$	1,073.7

Depreciation expense for the years ended December 31, 2020, 2019 and 2018 was $229.6 million, $204.4 million, and $185.1 million, respectively. For the year ended December 31, 2019, the Company wrote-off $2.4 million of obsolete assets which is included in the loss (gain) on sale of operating assets, net. The Company recognized insignificant asset write-offs in the years ended December 31, 2020 and 2018.

Asset Sale

During 2017, the Company entered into an Asset Purchase Agreement (“APA”) to sell a portion of its Chicago fiber network to a subsidiary of Verizon for $225.0 million in cash. In addition to the APA, the Company entered into a Construction Services Agreement (“CSA”) pursuant to which the Company agreed to complete the build-out of the network for $50.0 million to be recognized over time as such network elements were completed and accepted.

The Company completed the network build-out during the third quarter of 2019. The Company recognized a $3.3 million loss and a $2.0 million gain on sale of assets related to the CSA for the years ended December 31, 2019 and 2018, respectively.