Property and Equipment

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Note 8. PROPERTY AND EQUIPMENT

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

	December 31,
	2021			2020
Land	$	321,813		$	241,585
Buildings and site improvements		358,335			284,593
Leasehold improvements		13,437			10,684
Equipment		314,393			236,420
Construction in progress		9,457			15,919
Property and equipment, at cost		1,017,435			789,201
Accumulated depreciation and amortization		(261,981	)		(218,345	)
Property and equipment, net	$	755,454		$	570,856

See Note 3 regarding our acquisition of certain assets from 7-Eleven.

Approximately $454 million of property and equipment, net was held for leasing purposes at December 31, 2021.

As discussed in Note 12, 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 $9.2 million and $11.7 million at December 31, 2021 and 2020, 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 $2.1 million, $2.2 million and $2.3 million in 2021, 2020 and 2019, respectively.

Depreciation expense, including amortization of assets recorded under finance lease obligations, was approximately $56.1 million, $51.3 million and $42.8 million for 2021, 2020 and 2019, respectively. Included in these amounts are impairment charges primarily related to sites classified within assets held for sale totaling $7.7 million, $9.1 million and $4.5 million during 2021, 2020 and 2019, respectively.