PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2020

PROPERTY AND EQUIPMENT.

PROPERTY AND EQUIPMENT

NOTE 6 – PROPERTY AND EQUIPMENT

The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. If the carrying amount of an asset or group of assets exceeds its net realizable value, the asset will be written down to its fair value and the amount recognized for impairment is equal to the difference between the carrying value and the asset’s fair value.

During the first quarter of 2020, the Company recorded an impairment charge of $4.0 million to state property and equipment at fair value, calculated using the indirect method of the cost approach, which related to the Specialized Solutions segment. During 2019, the Company recorded an impairment charge of $97.6 million to adjust property and equipment to fair value. The impairment charges are included in impairment in the consolidated statements of operations and comprehensive income (loss).

The components of property and equipment are as follows at December 31 (in millions):

	2020		2019
Revenue equipment	$	546.7	$	630.6
Assets leased and available for lease to owner-operators		87.1		64.3
Buildings and improvements		57.0		59.9
Furniture and fixtures, office and computer equipment, vehicles and capitalized software development		31.9		40.2
		722.7		795.0
Accumulated depreciation		(320.0)		(330.7)
Total	$	402.7	$	464.3

Total depreciation expense was $91.1 million, $132.2 million and $114.4 million for the years ended December 31, 2020, 2019 and 2018, respectively, which included depreciation expense on assets leased and available for lease to owner-operators of $18.7 million and $20.5 million for the years ended December 31, 2020 and 2019.