PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Property and equipment are stated at cost, less accumulated depreciation. Depreciation is generally computed under the straight-line method over the following estimated useful lives:



Buildings and improvements		10 - 30 years
Station equipment		5 - 10 years
Office furniture and equipment		5 - 10 years
Leasehold improvements		Lesser of 10 - 30 years or lease term
Automotive equipment		3 - 5 years
Property and equipment under capital leases		Lease term

Acquired property and equipment as discussed in Note 2. Acquisitions, is depreciated on a straight-line basis over the respective estimated remaining useful lives.

Property and equipment consisted of the following as of December 31, 2015 and 2014 (in thousands):



	2015			2014
Land and improvements	$	60,678		$	55,269
Real estate held for development and sale	91,106			113,514
Buildings and improvements	210,597			192,478
Station equipment	667,454			684,176
Office furniture and equipment	85,411			70,402
Leasehold improvements	22,693			19,091
Automotive equipment	47,402			37,726
Capital leased assets	84,474			81,625
Construction in progress	34,666			18,774
	1,304,481			1,273,055
Less: accumulated depreciation	(587,344		)	(520,517		)
	$	717,137		$	752,538

Capital leased assets are related to building, tower and equipment leases. Depreciation related to capital leases is included in depreciation expense in the consolidated statements of operations. We added a $2.8 million capital lease in the quarter ended December 31, 2015. We recorded capital lease depreciation expense of $3.9 million, $3.7 million and $4.0 million for the years ended December 31, 2015, 2014 and 2013, respectively.