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Property and Equipment | 12 Months Ended
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Dec. 31, 2022
Property, Plant and Equipment [Abstract] |
Property and Equipment | Note 8—Property and Equipment Property and equipment, net, consisted of the following:
| December 31,
(in millions) | 2022 |  | 2021
Property and equipment - Not Subject to Master Leases |  |  |
Land and improvements | $ | 137.1 |  |  | $ | 147.6 |
Building, vessels and improvements | 324.6 |  |  | 327.3 |
Furniture, fixtures and equipment | 1,753.6 |  |  | 1,714.8 |
Leasehold improvements | 353.5 |  |  | 292.0 |
Construction in progress | 166.8 |  |  | 70.7 |
| 2,735.6 |  |  | 2,552.4 |
Less: Accumulated depreciation | (1,708.3) |  |  | (1,634.1) |
| 1,027.3 |  |  | 918.3 |
Property and equipment - Subject to Master Leases |  |  |
Land and improvements | 1,523.2 |  |  | 1,523.2 |
Building, vessels and improvements | 3,640.0 |  |  | 3,640.0 |
| 5,163.2 |  |  | 5,163.2 |
Less: Accumulated depreciation | (1,675.0) |  |  | (1,499.3) |
| 3,488.2 |  |  | 3,663.9 |
Property and equipment, net | $ | 4,515.5 |  |  | $ | 4,582.2 |
Depreciation expense was as follows:
| For the year ended December 31,
(in millions) | 2022 |  | 2021 |  | 2020
Depreciation expense (1) | $ | 329.1 |  |  | $ | 314.3 |  |  | $ | 336.9 |
(1)Of such amounts, $175.6 million, $183.4 million, and $156.1 million, respectively, pertained to real estate assets subject to our Master Leases. Hurricane Laura In August 2020, Hurricane Laura made landfall in Lake Charles, Louisiana, which caused significant damage to our L’Auberge Lake Charles property. During the year ended December 31, 2021, we wrote off property and equipment with a net book value of $23.2 million, of which $2.1 million and $21.1 million had been included in Property and equipment – Not subject to Master Leases, and Property and equipment – Subject to Master Leases, respectively. Tropicana During the year ended December 31, 2020, we recorded $7.3 million of impairment on the property and equipment associated with Tropicana, relating to the operating assets, which is included in “Impairment losses” within our Consolidated Statements of Operations. The charge was the result of an impairment assessment performed after reviewing the projected results of this property over the remaining lease term contained within the Tropicana Lease. There were no impairment charges recorded to property and equipment during the years ended December 31, 2022 and 2021.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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