v3.24.3
Property and Equipment, net
 9 Months Ended
Sep. 30, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, net Property and Equipment, net
Property and equipment, net consisted of the following (in thousands):

September 30, 2024December 31, 2023
Buildings and improvements$8,538,141 $8,459,085 
Land and improvements1,233,274 1,228,652 
Furniture, fixtures and equipment3,358,813 3,311,478 
Airplanes110,623 110,623 
Construction in progress234,123 162,592 
13,474,974 13,272,430 
Less: accumulated depreciation(6,957,144)(6,583,951)
$6,517,830 $6,688,479 

As of September 30, 2024 and December 31, 2023, construction in progress consisted primarily of costs capitalized for various capital enhancements at the Company's properties. During the nine months ended September 30, 2024, the Company expensed $61.5 million of project costs related to a discontinued development project, inclusive of $4.7 million of internally allocated overhead, that had been previously capitalized. The expense was recorded in Property charges and other expenses in the accompanying Condensed Consolidated Statements of Operations for the nine months ended September 30, 2024.
Depreciation expense for the three months ended September 30, 2024 and 2023 was $142.6 million and $156.0 million, respectively, and depreciation expense for the nine months ended September 30, 2024 and 2023 was $462.9 million and $465.0 million, respectively.