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Property and Equipment, net

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment, net

Property and Equipment, net

Property and equipment, net consisted of the following (in thousands):

			December 31,
			2020						2019
Buildings and improvements			$	9,758,846					$	9,367,241
Land and improvements			1,265,510						1,246,679
Furniture, fixtures and equipment			3,093,481						2,932,483
Airplanes			110,623						110,623
Construction in progress			136,390						477,333
			14,364,850						14,134,359
Less: accumulated depreciation			(5,168,206)						(4,510,527)
			$	9,196,644					$	9,623,832

As of December 31, 2020, construction in progress consisted primarily of costs capitalized for various capital enhancements at our properties. As of December 31, 2019, construction in progress consisted primarily of costs capitalized, including interest, for the construction of the additional meeting and convention space at Wynn Las Vegas, which was placed into service during the first quarter of 2020.

Depreciation expense for the years ended December 31, 2020, 2019 and 2018 was $699.6 million, $602.9 million, and $546.1 million, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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