Annual report pursuant to Section 13 and 15(d)

Property and Equipment

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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, net consisted of the following:
Depreciable December 31,
Lives 2023 2022
Land
 $ 347,989  $ 360,327 
Buildings and related fixtures
3-44 years
 2,078,305  1,894,007 
Leasehold improvements
1-27 years
 885,549  635,540 
Construction in progress
 340,507  410,985 
Equipment and other
1-15 years
 1,034,647  904,933 
Property and equipment, gross
 4,686,997  4,205,792 
Less accumulated depreciation
 (1,515,381) (1,304,550)
Property and equipment, net
 $ 3,171,616  $ 2,901,242 
Included in the construction in progress balances are site development costs which consist of legal, engineering, architectural, environmental, feasibility, other direct expenditures incurred for certain new projects and capitalized interest.
Equipment and other includes exercise equipment, capitalized software, computers, audio visual equipment, furniture and fixtures, decor and signage, as well as café, spa, playground and laundry equipment.
Depreciation expense, which is included in Depreciation and amortization in our consolidated statements of operations, for the years ended December 31, 2023, 2022 and 2021 was $242.0 million, $226.0 million and $232.4 million, respectively.