Property, Plant and Equipment and Leasehold Intangibles, Net

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment and Leasehold Intangibles, Net

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

As of March 31, 2023 and December 31, 2022, net property, plant and equipment and leasehold intangibles, which include assets under financing leases, consisted of the following.

(in thousands)	March 31, 2023		December 31, 2022
Land	$	503,488	$	506,968
Buildings and improvements	5,309,368		5,323,736
Furniture and equipment	1,061,777		1,055,304
Resident and leasehold operating intangibles	283,232		286,122
Construction in progress	54,315		41,778
Assets under financing leases and leasehold improvements	1,395,000		1,375,521
Property, plant and equipment and leasehold intangibles	8,607,180		8,589,429
Accumulated depreciation and amortization	(4,114,178)		(4,053,727)
Property, plant and equipment and leasehold intangibles, net	$	4,493,002	$	4,535,702

Assets under financing leases and leasehold improvements includes $93.2 million and $98.4 million of financing lease right-of-use assets, net of accumulated amortization, as of March 31, 2023 and December 31, 2022, respectively. Refer to Note 8 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 potential impairment arise. For the three months ended March 31, 2023 and 2022, the Company recognized depreciation and amortization expense on its property, plant and equipment and leasehold intangibles of $84.9 million and $85.7 million, respectively.