Property and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Note 7. PROPERTY AND EQUIPMENT

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


	December 31,
	2022			2021
Land	$	323,882		$	321,813
Buildings and site improvements		360,542			358,335
Leasehold improvements		15,312			13,437
Equipment		334,324			314,393
Construction in progress		6,514			9,457
Property and equipment, at cost		1,040,574			1,017,435
Accumulated depreciation and amortization		(312,195	)		(261,981	)
Property and equipment, net	$	728,379		$	755,454

Approximately $428 million of property and equipment, net was held for leasing purposes at December 31, 2022.

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 $7.1 million and $9.2 million at December 31, 2022 and 2021, respectively, net of accumulated amortization. Amortization of this right-of-use asset is included in depreciation, amortization and accretion expense on the consolidated statements of income and amounted to $2.0 million, $2.1 million and $2.2 million in 2022, 2021 and 2020, respectively.

Depreciation expense, including amortization of assets recorded under finance lease obligations, was approximately $58.3 million, $56.1 million and $51.3 million for 2022, 2021 and 2020, respectively. Included in these amounts are impairment charges primarily related to sites classified within assets held for sale totaling $2.8 million, $7.7 million and $9.1 million during 2022, 2021 and 2020, respectively.