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PROPERTY AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2012
PROPERTY AND EQUIPMENT | 8. PROPERTY AND EQUIPMENT The cost basis and estimated useful lives of property and equipment for continuing operations as of December 31, 2012 and 2011 are as follows:
|  | December 31, |  |  |
|  | 2012 |  |  | 2011 |  |  | Life
|  | (Dollars in thousands) |  |  |
Land |  | $ | 3,394 |  |  | $ | 3,375 |  |  |
Building and improvements |  |  | 51,347 |  |  |  | 46,769 |  |  | 15-50 years
Computer hardware and software |  |  | 160,287 |  |  |  | 139,671 |  |  | 3 years
Culinary equipment and library materials |  |  | 22,074 |  |  |  | 22,015 |  |  | 10 years
Furniture, fixtures and equipment |  |  | 146,349 |  |  |  | 145,920 |  |  | 5-10 years
Leasehold improvements |  |  | 388,083 |  |  |  | 405,668 |  |  | Shorter of Life of Lease or Useful Life
Vehicles |  |  | 931 |  |  |  | 962 |  |  | 5 years
Construction in progress |  |  | 3,555 |  |  |  | 4,764 |  |  |
|  |  | 776,020 |  |  |  | 769,144 |  |  |
Less-Accumulated depreciation |  |  | (498,449 | ) |  |  | (419,425 | ) |  |
Total property and equipment, net |  | $ | 277,571 |  |  | $ | 349,719 |  |  |
Depreciation expense for continuing operations for the years ended December 31, 2012, 2011 and 2010, was $79.1 million, $76.6 million and $67.8 million, respectively. Depreciation expense for discontinued operations, included in (loss) income from discontinued operations, was $0.3 million, $1.8 million and $2.6 million for the years ended December 31, 2012, 2011 and 2010, respectively. Property and equipment was affected by asset impairment charges of approximately $30.5 million for the year ended December 31, 2012 and $0.3 million for the year ended December 31, 2010. During 2012, we recorded $29.5 million for asset impairment charges related to the reduction in carrying values for schools that are being taught out. As these assets are expected to generate negative cash flows during the teach-out period, the fair value of these assets was determined based upon management’s assumptions regarding similarly-priced assets and estimated salvage values. Because the determination of the estimated fair value of these assets requires significant estimation and assumptions, these fair value measurements are categorized as Level 3 per ASC Topic 820. In addition, we recorded $1.0 million in asset impairment charges related to leased facilities within AIU and CTU as a result of exiting certain facilities. The $0.3 million charge recorded during 2010 related to asset impairment charges for one of our leased facilities within the Design & Technology segment. During 2011, we recorded a gain of approximately $1.4 million in connection with the sale of property located in California. This gain was recorded under miscellaneous income (expense) within Corporate and Other on our consolidated statement of income and comprehensive income.

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- 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. + References Reference 1: 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 2: 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: 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 5: 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 + Details
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