Property, Plant and Equipment and Leasehold Intangibles, Net

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment and Leasehold Intangibles, Net

7. Property, Plant and Equipment and Leasehold Intangibles, Net

As of December 31, 2022 and 2021, net property, plant and equipment and leasehold intangibles, which include assets under financing leases, consisted of the following.

	As of December 31,
(in thousands)	2022		2021
Land	$	506,968	$	502,610
Buildings and improvements	5,323,736		5,262,136
Furniture and equipment	1,055,304		990,006
Resident and leasehold operating intangibles	286,122		303,737
Construction in progress	41,778		51,037
Assets under financing leases and leasehold improvements	1,375,521		1,609,217
Property, plant and equipment and leasehold intangibles	8,589,429		8,718,743
Accumulated depreciation and amortization	(4,053,727)		(3,814,451)
Property, plant and equipment and leasehold intangibles, net	$	4,535,702	$	4,904,292

Assets under financing leases and leasehold improvements includes $98.4 million and $332.3 million of financing lease right-of-use assets, net of accumulated amortization, as of December 31, 2022 and 2021, respectively. Refer to Note 9 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, 2022, 2021, and 2020, the Company recognized depreciation and amortization expense on its property, plant and equipment and leasehold intangibles of $347.4 million, $337.6 million, and $359.2 million, respectively.