Property and Equipment, Net

PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following:



	March 31,		December 31,
	2013		2012
	(In thousands)
Land	$	377,748	$	377,748
Buildings and improvements	3,830,279		3,827,980
Furniture and equipment	1,314,007		1,306,150
Riverboats and barges	188,760		187,620
Construction in progress	59,123		27,707
Other	23,013		23,013
Total property and equipment	5,792,930		5,750,218
Less accumulated depreciation	2,180,422		2,125,230
Property and equipment, net	$	3,612,508	$	3,624,988

Depreciation expense for the three months ended March 31, 2013 and 2012 was $58.2 million and $48.9 million, respectively. Other property and equipment presented in the table above relates to the net realizable value of construction materials inventory that was previously included in assets held for development during the year ended December 31, 2012, and that was not disposed of with the sale of the Echelon project. Such assets are not in service and are not currently being depreciated.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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