Property and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment:

Property and equipment consists of the following (in millions):

	As of December 31,
	2021		2020
Land	$	259.8	$	217.2
Buildings	2,632.8		2,357.0
Leasehold improvements	254.1		232.5
Vehicles	35.0		33.9
Furniture, fixtures, and equipment	606.1		537.9
	3,787.8		3,378.5
Less: Accumulated depreciation and amortization	(1,539.4)		(1,374.4)
	2,248.4		2,004.1
Construction in progress	353.2		202.5
Property and equipment, net	$	2,601.6	$	2,206.6

As of December 31, 2021, approximately 73% of our consolidated Property and equipment, net held by Encompass Health Corporation and its guarantor subsidiaries was pledged to the lenders under our credit agreement. See Note 10, Long-term Debt, and Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, “Liquidity and Capital Resources.”

The amount of depreciation expense and interest capitalized is as follows (in millions):

	For the Year Ended December 31,
	2021		2020		2019
Depreciation expense	$	166.2	$	151.1	$	130.0
Interest capitalized	$	8.9	$	6.0	$	8.3