Property and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment, net consisted of the following:

	Depreciable	December 31,
	Lives	2023		2022
Land		$	347,989	$	360,327
Buildings and related fixtures	3-44 years	2,078,305		1,894,007
Leasehold improvements	1-27 years	885,549		635,540
Construction in progress		340,507		410,985
Equipment and other	1-15 years	1,034,647		904,933
Property and equipment, gross		4,686,997		4,205,792
Less accumulated depreciation		(1,515,381)		(1,304,550)
Property and equipment, net		$	3,171,616	$	2,901,242

Included in the construction in progress balances are site development costs which consist of legal, engineering, architectural, environmental, feasibility, other direct expenditures incurred for certain new projects and capitalized interest.

Equipment and other includes exercise equipment, capitalized software, computers, audio visual equipment, furniture and fixtures, decor and signage, as well as café, spa, playground and laundry equipment.

Depreciation expense, which is included in Depreciation and amortization in our consolidated statements of operations, for the years ended December 31, 2023, 2022 and 2021 was $242.0 million, $226.0 million and $232.4 million, respectively.