Property and Equipment:

Property and equipment consists of the following (in millions):



	As of December 31,
	2014			2013
Land	$	108.1		$	96.0
Buildings	1,214.4			1,085.2
Leasehold improvements	79.1			65.0
Vehicles	9.3			4.8
Furniture, fixtures, and equipment	364.2			339.6
	1,775.1			1,590.6
Less: Accumulated depreciation and amortization	(784.0		)	(712.6		)
	991.1			878.0
Construction in progress	28.6			32.5
Property and equipment, net	$	1,019.7		$	910.5

As of December 31, 2014, approximately 75% of our consolidated Property and equipment, net held by HealthSouth Corporation and its guarantor subsidiaries was pledged to the lenders under our credit agreement. See Note 8, Long-term Debt, and Note 20, Condensed Consolidating Financial Information.

Information related to fully depreciated assets and assets under capital lease obligations is as follows (in millions):



	As of December 31,
	2014			2013
Fully depreciated assets	$	240.9		$	225.0
Assets under capital lease obligations:
Buildings	$	124.4		$	124.4
Vehicles	5.2			—
Equipment	0.2			0.2
	129.8			124.6
Less: Accumulated amortization	(55.2		)	(47.6		)
Assets under capital lease obligations, net	$	74.6		$	77.0

The amount of depreciation expense, amortization expense relating to assets under capital lease obligations, interest capitalized, and rent expense under operating leases is as follows (in millions):



	For the Year Ended December 31,
	2014		2013		2012
Depreciation expense	$	79.9	$	67.9	$	59.0
Amortization expense	$	7.5	$	9.5	$	10.1
Interest capitalized	$	1.5	$	1.9	$	1.0
Rent expense:
Minimum rent payments	$	37.3	$	40.3	$	41.2
Contingent and other rents	18.2		20.3		20.6
Other	3.9		4.2		4.5
Total rent expense	$	59.4	$	64.8	$	66.3

Leases—

We lease certain land, buildings, and equipment under noncancelable operating leases generally expiring at various dates through 2025. We also lease certain buildings and equipment under capital leases generally expiring at various dates through 2034. Operating leases generally have 3- to 15-year terms, with one or more renewal options, with terms to be negotiated at the time of renewal. Various facility leases include provisions for rent escalation to recognize increased operating costs or require us to pay certain maintenance and utility costs. Contingent rents are included in rent expense in the year incurred.

Some facilities are subleased to other parties. Rental income from subleases approximated $5.1 million, $4.9 million, and $4.7 million for the years ended December 31, 2014, 2013, and 2012, respectively. Total expected future minimum rentals under these noncancelable subleases approximated $6.0 million as of December 31, 2014.

Certain leases contain annual escalation clauses based on changes in the Consumer Price Index while others have fixed escalation terms. The excess of cumulative rent expense (recognized on a straight-line basis) over cumulative rent payments made on leases with fixed escalation terms is recognized as straight-line rental accrual and is included in Other long-term liabilities in the accompanying consolidated balance sheets, as follows (in millions):



	As of December 31,
	2014		2013
Straight-line rental accrual	$	14.6	$	17.3

In March 2008, we sold our corporate campus to Daniel Corporation (“Daniel”), a Birmingham, Alabama-based real estate company. The sale included a deferred purchase price component related to an incomplete 13-story building located on the property, often referred to as the Digital Hospital. Under the agreement, Daniel was obligated upon sale of its interest in the building to pay to us 40% of the net profit realized from the sale. In June 2013, Daniel sold the building to Trinity Medical Center. In the third quarter of 2013, we received $10.8 million in cash from Daniel in connection with the sale of the building. The gain associated with this transaction is being deferred and amortized over five years, which is the remaining life of our lease agreement with Daniel for the portion of the property we continue to occupy with our corporate office, as a component of General and administrative expenses.

Future minimum lease payments at December 31, 2014, for those leases having an initial or remaining noncancelable lease term in excess of one year, are as follows (in millions):



Year Ending December 31,	Operating Leases		Capital Lease Obligations			Total
2015	$	43.8	$	15.3		$	59.1
2016	37.6		15.0			52.6
2017	31.8		14.0			45.8
2018	27.0		13.6			40.6
2019	22.4		10.7			33.1
2020 and thereafter	87.3		98.4			185.7
	$	249.9	167.0			$	416.9
Less: Interest portion			(80.3		)
Obligations under capital leases			$	86.7

In addition to the above, and as discussed in Note 8, Long-term Debt, “Other Notes Payable,” we have two sale/leaseback transactions involving real estate accounted for as financings. Future minimum payments, which are accounted for as interest, under these obligations are $2.7 million in each of the next five years and $11.0 million thereafter.