Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and equipment consisted of the following:


($ in thousands)
	December 31,
	2022		2021
Land	$	11,793	$	10,551
Buildings	34,298		30,045
Equipment and vehicles	1,397,727		1,248,464
Leasehold improvements	8,573		8,159
Subtotal	1,452,391		1,297,219
Less accumulated depreciation	(529,656)		(488,725)
Property and equipment — net	$	922,735	$	808,494

During the years ended December 31, 2022 and 2021 and 2020, our depreciation expense was $127.2 million, $133.4 million and $153.3 million respectively.

In December 2021, the Company disposed of two turbine generators, which were included in our Completion Services reportable segment, for total cash proceeds of approximately $36.0 million. The net book value of the two turbines prior to the disposal was approximately $39.5 million, resulting in loss on disposal of approximately $3.5 million.