PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2022

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, 2022 and 2021, and includes the estimated useful lives for its types of property and equipment (in thousands, except original useful lives):

	Original Useful
	Lives	December 31, 2022		December 31, 2021
Land		$	931,993	$	888,558
Buildings and building improvements	15 – 39 years		2,896,071		2,737,212
Leasehold improvements	3 – 25 years		951,652		864,169
Furniture, fixtures and equipment	3 – 20 years		1,847,248		1,700,149
Vehicles	5 – 10 years		571,328		502,643
Construction in progress			239,773		255,307
Total property and equipment			7,438,065		6,948,038
Less: accumulated depreciation and amortization			3,014,024		2,734,523
Net property and equipment		$	4,424,041	$	4,213,515

The Company recorded depreciation and amortization expense related to property and equipment in the amounts of $343.6 million, $320.4 million and $303.0 million for the years ended December 31, 2022, 2021 and 2020, respectively, which were primarily included in “Selling, general and administrative expenses” on the accompanying Consolidated Statements of Income.

The Company recorded charges of $7.6 million related to property and equipment for the year ended December 31, 2022, primarily due to the write-down on surplus land and buildings that exceeded market value and certain hardware and software projects that disposed or were no longer expected to provide a long-term benefit, $12.6 million related to property and equipment for the year ended December 31, 2021, primarily due to certain hardware and software projects that disposed or were no longer expected to provide a long-term benefit, and $3.4 million related to property and equipment for the year ended December 31, 2020, primarily due to the write-down on surplus land and buildings that exceeded market value, which were included in “Selling, general and administrative expenses” on the accompanying Consolidated Statements of Income.