Property, Plant and Equipment and Leasehold Intangibles, Net

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment and Leasehold Intangibles, Net

As of September 30, 2020 and December 31, 2019, net property, plant and equipment and leasehold intangibles, which include assets under financing leases, consisted of the following:


(in thousands)	September 30, 2020		December 31, 2019
Land	$	503,686	$	450,894
Buildings and improvements	5,193,677		4,790,769
Furniture and equipment	933,474		859,849
Resident and leasehold operating intangibles	310,230		317,111
Construction in progress	62,319		80,729
Assets under financing leases and leasehold improvements	1,539,276		1,847,493
Property, plant and equipment and leasehold intangibles	8,542,662		8,346,845
Accumulated depreciation and amortization	(3,415,495)		(3,237,011)
Property, plant and equipment and leasehold intangibles, net	$	5,127,167	$	5,109,834

Assets under financing leases and leasehold improvements includes $0.4 billion and $0.6 billion of financing lease right-of-use assets, net of accumulated amortization, as of September 30, 2020 and December 31, 2019, respectively. Refer to Note 11 for further information on the Company's financing leases.

The Company recognized depreciation and amortization expense on its property, plant and equipment and leasehold intangibles of $87.8 million and $93.3 million for the three months ended September 30, 2020 and 2019, respectively, and $271.7 million and $282.6 million for the nine months ended September 30, 2020 and 2019, respectively.

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 6 for additional information on impairment expense for property, plant and equipment and leasehold intangibles.