PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment (including assets held under finance leases) consisted of the following: 

	Estimated Useful  Lives (years) (1)	As of
		December 31, 2019			December 31, 2018
Towers	Up to 20	$	13,930.7		$	12,777.9
Equipment (2)	2 - 20	1,897.3			1,667.3
Buildings and improvements	3 - 32	638.9			628.5
Land and improvements (3)	Up to 20	2,486.1			2,285.4
Construction-in-progress		372.6			358.1
Total		19,325.6			17,717.2
Less accumulated depreciation		(7,241.2		)	(6,470.1		)
Property and equipment, net		$	12,084.4		$	11,247.1

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(1) Assets on leased land are depreciated over the shorter of the estimated useful life of the asset or the term of the corresponding ground lease taking into consideration lease renewal options and residual value.

(2) Includes fiber and DAS assets.

(3) Estimated useful lives apply to improvements only.

Total depreciation expense for the years ended December 31, 2019, 2018 and 2017 was $905.5 million, $883.1 million and $835.5 million, respectively. Depreciation expense includes amounts related to finance lease assets for the year ended December 31, 2019 of $168.1 million.

As of December 31, 2018, property and equipment included $4,369.5 million and $1,016.2 million of capital lease assets with related equipment and improvements and accumulated depreciation, respectively. As of December 31, 2018, capital lease assets were primarily classified as towers and land and improvements.

As of December 31, 2019, property and equipment included $3,059.7 million and $1,140.4 million of finance lease assets and accumulated depreciation, respectively. Information about finance lease-related balances is as follows:

		As of
Finance leases:	Classification	December 31, 2019
Property and equipment	Towers	$	2,695.9
Accumulated depreciation		(1,062.0		)
Property and equipment, net		$	1,633.9
Property and equipment	Buildings and improvements	$	167.0
Accumulated depreciation		(65.3		)
Property and equipment, net		$	101.7
Property and equipment	Land	$	150.9
Property and equipment	Equipment	$	45.9
Accumulated depreciation		(13.1		)
Property and equipment, net		$	32.8

As of December 31, 2019, the Company had $1,575.2 million of perpetual land easements which are not depreciable.