Property, Plant and Equipment and Leasehold Intangibles, Net

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment and Leasehold Intangibles, Net

As of December 31, 2019 and 2018, net property, plant and equipment and leasehold intangibles, which include assets under financing leases, consisted of the following:



	As of December 31,
(in thousands)	2019			2018
Land	$	450,894		$	455,623
Buildings and improvements	4,790,769			4,749,877
Furniture and equipment	859,849			805,190
Resident and leasehold operating intangibles	317,111			477,827
Construction in progress	80,729			57,636
Assets under financing leases and leasehold improvements	1,847,493			1,776,649
Property, plant and equipment and leasehold intangibles	8,346,845			8,322,802
Accumulated depreciation and amortization	(3,237,011		)	(3,047,375		)
Property, plant and equipment and leasehold intangibles, net	$	5,109,834		$	5,275,427

Assets under financing leases and leasehold improvements includes $0.6 billion and $0.7 billion of financing lease right-of-use assets, net of accumulated amortization, as of December 31, 2019 and 2018, respectively. Refer to Note 11 for further information on the Company's financing leases.

Long-lived assets with definite useful lives are depreciated or amortized on a straight-line basis over their estimated useful lives (or, in certain cases, the shorter of their estimated useful lives or the lease term) and are tested for impairment whenever indicators of impairment arise. Refer to Note 5 for information on impairment expense for property, plant and equipment and leasehold intangibles.

For the years ended December 31, 2019, 2018, and 2017, the Company recognized depreciation and amortization expense on its property, plant and equipment and leasehold intangibles of $377.6 million, $444.3 million, and $479.4 million, respectively.