As of March 31, 2025 and December 31, 2024, property and equipment, net, which include assets under finance leases, consist of the following (in thousands):


	Asset Lives	March 31, 2025		December 31, 2024
Land	NA	$	73,405	$	73,405
Land improvements	5 to 20 years	32,548		31,764
Buildings and building improvements	10 to 40 years	992,993		989,054
Furniture and equipment	5 to 10 years	68,195		66,600
Automobiles	5 to 7 years	2,997		2,923
Assets under financing leases and leasehold improvements (1)	5 to 10 years	5,820		5,607
Construction in progress	NA	1,354		1,039
Total property and equipment		$	1,177,312	$	1,170,392
Less accumulated depreciation and amortization		(441,841)		(430,508)
Total property and equipment, net		$	735,471	$	739,884

(1) Leasehold improvements are amortized over the shorter of the useful life of the asset or the remaining lease term. Assets under financing leases and leasehold improvements include $0.1 million of financing lease right-of-use assets as of both March 31, 2025 and December 31, 2024.

The Company recognized depreciation and amortization expense on its property and equipment of $11.3 million and $9.8 million for the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025 and 2024, property and equipment, net included $1.4 million and $0.5 million, respectively, of capital expenditures which had been incurred but not yet paid.