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Property and Equipment
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment:
Property and equipment consists of the following (in millions):
 As of December 31,
 20232022
Land$294.0 $286.1 
Buildings3,402.8 3,019.8 
Leasehold improvements316.8 281.5 
Vehicles5.3 4.5 
Furniture, fixtures, and equipment723.3 647.2 
 4,742.2 4,239.1 
Less: Accumulated depreciation and amortization(1,872.2)(1,659.4)
 2,870.0 2,579.7 
Construction in progress431.0 359.5 
Property and equipment, net$3,301.0 $2,939.2 
As of December 31, 2023, approximately 67% 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.”
Depreciation expense was $215.7 million, $187.3 million, and $160.4 million for the years ended December 31, 2023, 2022 and 2021, respectively. Interest capitalized was $13.5 million, $10.5 million, and $8.9 million for the years ended December 31, 2023, 2022 and 2021, respectively.