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Property and Equipment | 12 Months Ended
--- | ---
Dec. 31, 2013
Property and Equipment |
Property and Equipment | 8. Property and Equipment Property and equipment, net, consists of the following:
December 31, |  | 2013 |  | 2012 |
--- | --- | --- | --- | --- | ---
|  | (in thousands) |
Land and improvements |  | $ | 14,714 |  | $ | 442,882 |
Building and improvements |  |  | 156,443 |  |  | 2,283,230 |
Furniture, fixtures, and equipment |  |  | 1,190,252 |  |  | 1,240,898 |
Leasehold improvements |  |  | 24,301 |  |  | 17,229 |
Construction in progress |  |  | 25,389 |  |  | 30,531 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total property and equipment |  |  | 1,411,099 |  |  | 4,014,770 |
Less accumulated depreciation |  |  | (913,642 | ) |  | (1,283,973 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Property and equipment, net |  | $ | 497,457 |  | $ | 2,730,797 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
During the year ended December 31, 2013, total property and equipment, net, decreased by $2,233.3 million primarily due to the contribution of property and equipment, net associated with Penn's real property interests and real estate development business, as well as the TRS Properties' property and equipment, net, to GLPI in connection with the Spin-Off for $2,114.8 million and normal depreciation for the year ended December 31, 2013 for $282.2 million, which was partially offset by capital expenditures incurred for the year ended December 31, 2013 primarily related to the Company's two new facilities in Ohio that opened in 2012, the two facilities under development in Ohio prior to the Spin-Off, and for the rebranding of the Company's St. Louis facility in 2013. Depreciation expense, for property and equipment as well as capital leases, totaled $282.2 million, $244.5 million, and $209.3 million in 2013, 2012 and 2011, respectively. Interest capitalized in connection with major construction projects was $1.4 million, $8.4 million, and $5.6 million in 2013, 2012 and 2011, respectively.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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