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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.