Property And Equipment

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Property And Equipment

Property and Equipment

The following table presents the components of property and equipment, which are included in other assets on the consolidated balance sheets.

	December 31,
(dollars in thousands)	2015			2014
Land	$	56,408		$	56,848
Buildings	77,488			78,786
Leasehold improvements	104,003			98,098
Land improvements	71,585			70,596
Furniture and equipment	291,736			255,566
Other	134,939			116,884
	736,159			676,778
Accumulated depreciation and amortization	(305,324		)	(255,388		)
Property and equipment	$	430,835		$	421,390

Depreciation and amortization expense of property and equipment was $64.2 million, $51.2 million and $51.5 million for the years ended December 31, 2015, 2014 and 2013, respectively.

The Company does not own any material properties. The Company leases substantially all of the facilities used by its insurance operations and certain furniture and equipment under operating leases. The Company leases offices for the U.S. Insurance segment in Glen Allen, Virginia and in 23 other locations; the Company leases offices for the International Insurance segment in London, England, Hamilton, Bermuda and 29 other locations; and the Company leases offices for the Reinsurance segment primarily in Summit, New Jersey and Hamilton, Bermuda. The Company's Markel Ventures operations own certain of their office, clinic, manufacturing, warehouse and distribution facilities and lease others. The Company believes these facilities are suitable and adequate for the Company's insurance and non-insurance operations.