Property and Equipment

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Note 9. PROPERTY AND EQUIPMENT

Property and equipment, net consisted of the following (in thousands):

	December 31,
	2020			2019
Land	$	241,585		$	257,131
Buildings and site improvements		284,593			296,411
Leasehold improvements		10,684			9,350
Equipment		236,420			194,997
Construction in progress		15,919			4,638
Property and equipment, at cost		789,201			762,527
Accumulated depreciation and amortization		(218,345	)		(196,611	)
Property and equipment, net	$	570,856		$	565,916

See Notes 3, 4 and 5 for additional information on the closings of the additional tranches of the asset exchange, the CST Fuel Supply Exchange and the acquisition of the retail and wholesale assets, respectively, in which we acquired and/or divested property and equipment.

Approximately $481.9 million of property and equipment, net was used for leasing purposes at December 31, 2020.

As discussed in Note 13, we lease sites under a lease with Getty Realty Corporation, for which the building and equipment components are classified as a finance lease. The right-of-use asset associated with this finance lease is included in the table above and totaled $11.7 million and $14.0 million at December 31, 2020 and 2019, respectively, net of accumulated amortization. Amortization of this right-of-use asset is included in depreciation, amortization and accretion expense on the statements of income and amounted to $2.2 million and $2.3 million in 2020 and 2019, respectively.

Depreciation expense, including amortization of assets recorded under finance lease obligations, was approximately $51.3 million, $42.8 million and $49.3 million for 2020, 2019 and 2018, respectively. Included in these amounts are impairment charges primarily related to sites classified within assets held for sale totaling $9.1 million, $4.5 million and $8.1 million during 2020, 2019 and 2018, respectively.