Property and Equipment

12 Months Ended

Dec. 31, 2019

Property and Equipment

Property and equipment

NOTE 4 – PROPERTY AND EQUIPMENT

The following table identifies the types and balances of property and equipment included in “Property and equipment, at cost” on the accompanying Consolidated Balance Sheets as of December 31, 2019 and 2018, and includes the estimated useful lives for its types of property and equipment (in thousands, except original useful lives):

	Original Useful
	Lives	December 31, 2019		December 31, 2018
Land		$	805,556	$	745,050
Buildings and building improvements	15 – 39 years		2,378,074		2,147,969
Leasehold improvements	3 – 25 years		751,155		686,058
Furniture, fixtures and equipment	3 – 20 years		1,450,444		1,350,808
Vehicles	5 – 10 years		447,939		424,421
Construction in progress			358,259		291,246
Total property and equipment			6,191,427		5,645,552
Less: accumulated depreciation and amortization			2,243,224		2,058,550
Net property and equipment		$	3,948,203	$	3,587,002

The Company recorded depreciation and amortization expense related to property and equipment in the amounts of $267.3 million, $246.0 million and $232.7 million for the years ended December 31, 2019, 2018 and 2017, respectively, which were primarily included in “Selling, general and administrative expenses” on the accompanying Consolidated Statements of Income.

The Company recorded a charge of $1.9 million and $11.4 million related to property and equipment for the year ended December 31, 2019 and 2018, respectively, primarily due to the disposal of certain software projects that were no longer expected to provide a long-term benefit, which was included in “Selling, general and administrative expenses” on the accompanying Consolidated Statements of Income.