Property and Equipment

12 Months Ended

Dec. 31, 2018

Note 5. Property and Equipment

Property and equipment consisted of the following as of December 31, 2018 and 2017:



	December 31,
(in thousands)	2018		2017
Land and land improvements	$	70,960	$	71,061
Buildings and leasehold improvements		311,409		305,277
Furniture, fixtures and equipment		92,805		92,360
Software		72,721		70,003
Assets under development		31,742		9,960
		579,637		548,661
Accumulated depreciation and amortization		(225,969)		(214,998)
Property and equipment, net	$	353,668	$	333,663

Assets under development is comprised primarily of building and leasehold improvements and software design and implementation costs.

Depreciation and amortization expense was $26.5 million, $28.1 million and $28.4 million for the years ended December 31, 2018, 2017 and 2016, respectively.

Property and Equipment Held for Sale

During the fourth quarter of 2017, the Company determined that certain property and equipment met the criteria to be classified as assets held for sale. The sale of these assets is expected to close in the first half of 2019. The carrying value of $27.2 million has been recorded within Other Assets in the Consolidated Balance Sheets as of December 31, 2018 and 2017. For more information on the Company's policy on assets held for sale, refer to Note 1 – Summary of Significant Account Policies and Recent Accounting Pronouncements.