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III - Schedule of Real Estate and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
SEC Schedule III, Real Estate and Accumulated Depreciation
 
 
 
 
Initial Cost
 
Cost
Capitalized
Subsequent
to
Acquisition
 
Gross Carrying Amount at December 31, 2019 (3)
 
 
 
 
 
 
 
 
Description (1)
 
Encumbrances
 
Land
 
Structures and Improvements
 
 
Land
 
Structures and Improvements
 
Total
 
Accumulated
Depreciation
 
Construction
Date
 
Acquisition
Date
 
Useful
Lives
Structures added prior to January 1, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States - 39,618 displays
 
—

 
(2) 
 
(2) 
 
(2) 
 
$
81.1

 
$
1,405.7

 
1,486.8

 
$
(1,113.2
)
 
Various
 
Various
 
5 to 20 years
Canada - 4,808 displays
 
—

 
(2) 
 
(2) 
 
(2) 
 
2.2

 
284.7

 
286.9

 
(271.5
)
 
Various
 
Various
 
5 to 20 years
 
 
 
 
 
 
 
 
 
 
$
83.3

 
$
1,690.4

 
$
1,773.7

 
$
(1,384.7
)
 
 
 
 
 
 
Structures added subsequent to January 1, 2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States - 2,039 displays
 
 
 
$
15.5

 
$
165.4

 
$
(11.8
)
 
$
15.5

 
$
153.6

 
$
169.1

 
$
(7.7
)
 
Various
 
Various
 
5 to 20 years
Canada - 258 displays
 
 
 
—

 
22.1

 
—

 
—

 
22.1

 
22.1

 
(1.6
)
 
Various
 
Various
 
5 to 20 years
 
 
 
 
$
15.5

 
$
187.5

 
$
(11.8
)
 
$
15.5

 
$
175.7

 
$
191.2

 
$
(9.3
)
 
 
 
 
 
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
United States - 41,657 displays
 
 
 
 
 
 
 
 
 
$
96.6

 
$
1,559.3

 
$
1,655.9

 
$
(1,120.9
)
 
Various
 
Various
 
5 to 20 years
Canada - 5,066 displays
 
 
 
 
 
 
 
 
 
2.2

 
306.8

 
309.0

 
(273.1
)
 
Various
 
Various
 
5 to 20 years
 
 
 
 
 
 
 
 
 
 
$
98.8

 
$
1,866.1

 
$
1,964.9

 
$
(1,394.0
)
 
 
 
 
 
 
______________________
(1)
No single asset exceeded 5% of the total gross carrying amount as of December 31, 2019.
(2)
This information is omitted as it would be impracticable to compile on a site-by-site basis.
(3)
Includes sites under construction.

The following table summarizes the activity for the Company’s real estate assets, which consist of advertising displays, and the related accumulated depreciation.
 
2019
 
2018
 
2017
Gross real estate assets:
 
 
 
 
 
Balance at the beginning of the year
$
1,886.9

 
$
1,845.2

 
$
1,787.3

New Investments
25.0

 
27.2

 
22.0

Redevelopments
35.6

 
29.0

 
23.4

Recurring capital expenditures
10.2

 
12.8

 
13.0

Land acquisitions
2.1

 
3.5

 
4.6

Additions for construction of / improvements to structures
72.9

 
72.5

 
63.0

Assets sold or written-off
(9.4
)
 
(2.9
)
 
(28.9
)
Foreign exchange
14.5

 
(27.9
)
 
23.8

Balance at the end of the year
$
1,964.9

 
$
1,886.9

 
$
1,845.2

Accumulated depreciation:
 
 
 
 
 
Balance at the beginning of the year
$
1,323.2

 
$
1,280.7

 
$
1,208.5

Depreciation
66.0

 
69.1

 
76.2

Assets sold or written-off
(8.0
)
 
(2.3
)
 
(24.5
)
Foreign exchange
12.8

 
(24.3
)
 
20.5

Balance at the end of the year
$
1,394.0

 
$
1,323.2

 
$
1,280.7