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, 2022

Property and Equipment

Property and Equipment

4. PROPERTY & EQUIPMENT

The following table sets forth our property and equipment by class as of December 31, 2022 and 2021, in thousands:


	As of December 31,
	2022		2021
Land and improvements	$	7,437	$	7,776
Buildings		47,384		45,478
Equipment		150,674		142,686
Computer hardware and software		167,897		158,731
Company vehicles		214,137		177,061
		587,529		531,732
Less: Accumulated depreciation		(340,692)		(296,901)
Total property and equipment, net	$	246,837	$	234,831

For additions to property and equipment as a result of 2022 acquisitions, see Note 15 – Business Combinations. As of December 31, 2022 and 2021, property and equipment, net on our Consolidated Balance Sheet includes $6.6 million and $9.7 million right of use assets on finance leases, respectively, which is disclosed further in Note 2 – Leases.

Depreciation expense was $52.9 million, $42.9 million and $40.5 million for the years ended December 31, 2022, 2021 and 2020, respectively.