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Property and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment | Property and Equipment Property and equipment are stated at cost or, if obtained through acquisition, at fair value determined on the date of acquisition. Depreciation is recognized using the straight-line method over the estimated useful lives of the assets, generally 20 to 40 years for buildings and building improvements, three to five years for computers and software and five to seven years for furniture and equipment. Leasehold improvements are depreciated on a straight-line basis over the shorter of the lease term or the estimated useful life of the assets. Routine maintenance and repairs are expensed as incurred, while expenditures that increase capacities or extend useful lives are capitalized. The Company also leases certain facilities and equipment under finance leases. Assets held under finance leases are stated at the present value of lease payments at the inception of the related lease. Such assets are amortized on a straight-line basis over the lesser of the lease term or the remaining useful life of the leased asset. A summary of property and equipment follows (in millions):
|  | December 31,
|  | 2023 |  | 2022
Land |  | $ | 9.2 |  |  | $ | 11.1 |
Buildings and improvements |  | 225.3 |  |  | 164.0 |
Furniture and equipment |  | 29.5 |  |  | 26.7 |
Computer and software |  | 108.5 |  |  | 96.6 |
Medical equipment |  | 310.1 |  |  | 263.1 |
Right-of-use finance lease assets |  | 716.3 |  |  | 631.3 |
Construction in progress |  | 24.2 |  |  | 58.1 |
Property and equipment, at cost |  | 1,423.1 |  |  | 1,250.9 |
Less: Accumulated depreciation |  | (454.4) |  |  | (374.3) |
Property and equipment, net |  | $ | 968.7 |  |  | $ | 876.6 |
The increase in right-of-use finance lease assets includes the impact of the modification of certain existing facility real estate leases that were previously classified as operating leases. See Note 6. "Leases" for further discussion. Depreciation expense was $112.8 million, $112.1 million and $94.5 million for the years ended December 31, 2023, 2022 and 2021, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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