Property and Equipment

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Property and Equipment

5. Property and Equipment

Property and equipment consist of the following at fiscal year-end:

	Useful Life		2020			2019
	(Years)		(In thousands)
Land		—	$	128,498		$	128,874
Buildings and improvements	2 to 50			2,264,910			2,229,956
Leasehold improvements	1 to 29			283,561			291,511
Equipment	3 to 10			225,509			216,604
Furniture, fixtures and computer software	1 to 7			66,375			64,828
Facility construction in progress		—		42,863			31,979
Total			$	3,011,716		$	2,963,752
Less accumulated depreciation and amortization				(889,521	)		(819,030	)
Property and equipment, net			$	2,122,195		$	2,144,722

The Company amortizes its leasehold improvements over the shorter of their estimated useful lives or the terms of the leases including renewal periods that are reasonably assured. The Company’s construction in progress primarily consists of new construction and renovations to facilities that are owned by the Company. Interest capitalized in property and equipment for the years ended December 31, 2020 and 2019 was not significant.

Depreciation expense was $112.4 million, $107.9 million and $103.5 million for the years ended December 31, 2020, 2019 and 2018, respectively.

At both December 31, 2020 and 2019, the Company had $19.4 million and $17.1 million, respectively, of assets recorded under finance leases related to land, buildings and improvements. Finance leases are recorded net of accumulated amortization of $15.4 million and $14.2 million, at December 31, 2020 and 2019, respectively. Depreciation expense related to assets recorded under finance leases for each of the years ended December 31, 2020, 2019 and 2018 was $1.2 million, $1.0 million and $1.0 million, respectively and are included in Depreciation and Amortization in the accompanying consolidated statements of operations.