TopBuild Corp. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Property and Equipment

Property and Equipment

12 Months Ended

Dec. 31, 2021

Property and Equipment

Property and Equipment

4. PROPERTY & EQUIPMENT

The following table sets forth our property and equipment by class as of December 31, 2021 and 2020, in thousands:


	As of December 31,
	2021		2020
Land and improvements	$	7,776	$	7,436
Buildings		45,478		39,562
Equipment		142,686		120,643
Computer hardware and software		158,731		142,427
Company vehicles		177,061		137,593
		531,732		447,661
Less: Accumulated depreciation		(296,901)		(267,608)
Total property and equipment, net	$	234,831	$	180,053

For additions to property and equipment as a result of 2021 acquisitions, see Note 15 – Business Combinations. As of December 31, 2021, property and equipment, net on our Consolidated Balance Sheet includes $9.7 million right of use assets on finance leases, which is disclosed further in Note 2 – Leases. There were no outstanding finance leases as of the year ended December 31, 2020.

Depreciation expense was $42.9 million, $40.5 million and $31.9 million for the years ended December 31, 2021, 2020 and 2019, respectively.