Property and Equipment

3 Months Ended

Mar. 31, 2013

5. Property and Equipment

Property and equipment, net, consists of the following:

	March 31,			December 31,
	2013			2012
	(in thousands)

Land and improvements	$	438,378		$	442,882
Building and improvements	2,295,878			2,283,230
Furniture, fixtures, and equipment	1,275,140			1,240,898
Leasehold improvements	17,188			17,229
Construction in progress	37,267			30,531
Total property and equipment	4,063,851			4,014,770
Less accumulated depreciation	(1,356,679		)	(1,283,973		)
Property and equipment, net	$	2,707,172		$	2,730,797

Depreciation expense, for property and equipment, totaled $76.2 million for the three months ended March 31, 2013, as compared to $53.2 million for the three months ended March 31, 2012. Interest capitalized in connection with major construction projects was $0.1 million for the three months ended March 31, 2013, as compared to $2.9 million for the three months ended March 31, 2012.

- 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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