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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.