Annual report pursuant to Section 13 and 15(d)

Property, Plant and Equipment (Tables)

v3.20.4
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2020
Property Plant And Equipment [Abstract]  
Summary of Property, Plant and Equipment

Property, plant and equipment is summarized as follows:

 

 

 

As of December 31,

 

(in thousands)

 

2020

 

 

2019

 

Land

 

$

95,712

 

 

$

90,862

 

Buildings and improvements

 

 

531,059

 

 

 

349,066

 

Furniture, fixtures and equipment

 

 

485,349

 

 

 

454,837

 

Leasehold improvements

 

 

506,459

 

 

 

453,805

 

Total property, plant and equipment

 

 

1,618,579

 

 

 

1,348,570

 

Less accumulated depreciation and amortization

 

 

683,138

 

 

 

609,645

 

Property, plant and equipment, net

 

$

935,441

 

 

$

738,925

 
Summary of Estimated Useful Lives of Property, Plant and Equipment

Depreciation expense for the year ended December 31, 2020 was $115.5 million as calculated using the straight-line method, which is based on the following estimated useful lives:

 

Buildings

 

20 years

Building improvements

 

10 years

Furniture, fixtures and equipment

 

5 to 20 years

Leasehold improvements

 

Shorter of useful life or remaining lease term