Note 12 - Property and Equipment, Net

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

12. Property and Equipment, net

Balances of major classes of assets and total accumulated depreciation and depletion are included in property and equipment, net in the consolidated balance sheets as follows (in thousands):

December 31,	2019		2018
Equipment and vehicles	$	947,687	$	906,275
Quarry property		188,960		180,246
Land and land improvements		132,531		142,271
Buildings and leasehold improvements		122,316		108,884
Office furniture and equipment		67,991		65,680
Property and equipment		1,459,485		1,403,356
Less: accumulated depreciation and depletion		917,188		853,668
Property and equipment, net	$	542,297	$	549,688

Depreciation and depletion expense primarily included in cost of revenue in our consolidated statements of operations was $101.9 million, $96.4 million and $63.8 million for the years ended December 31, 2019, 2018 and 2017, respectively. 

As discussed in Note 1, we have asset retirement obligations, which are liabilities associated with our legally required obligations to reclaim owned and leased quarry property and related facilities. As of December 31, 2019 and 2018, $3.9 million and $4.4 million, respectively, of our asset retirement obligations were included in accrued expenses and other current liabilities and $17.9 million and $17.4 million, respectively, were included in other long-term liabilities in the consolidated balance sheets.

The following is a reconciliation of these asset retirement obligations (in thousands):

Years Ended December 31,	2019			2018
Beginning balance	$	21,792		$	22,527
Revisions to estimates		899			17
Liabilities settled		(2,061	)		(1,790	)
Accretion		1,120			1,038
Ending balance	$	21,750		$	21,792