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Property and Equipment | 12 Months Ended
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Dec. 31, 2018
Property, Plant and Equipment [Abstract] |
Property and Equipment | Property and Equipment Property and equipment as of December 31, 2018 and 2017 consists of the following (in thousands):
| 2018 |  | 2017
Land | $ | 617,695 |  |  | $ | 602,879 |
Land improvements | 7,994 |  |  | 7,994 |
Buildings | 2,682,320 |  |  | 2,414,216 |
Furniture, fixtures and equipment | 491,421 |  |  | 423,987 |
Construction in progress | 38,623 |  |  | 31,906 |
| 3,838,053 |  |  | 3,480,982 |
Less: accumulated depreciation | (893,436 | ) |  | (788,696 | )
| $ | 2,944,617 |  |  | $ | 2,692,286 |
During the year ended December 31, 2017, we recognized a $41.7 million impairment loss for property damage at Frenchman's Reef, the Havana Cabana Key West, and the Sheraton Suites Key West in connection with Hurricanes Irma and Maria. We recorded a reduction to the impairment loss and a corresponding receivable of $40.8 million reflecting the insurance proceeds that were probable of receipt up to the amount of the loss recorded. The receivable for insurance proceeds is included in prepaid and other assets on the accompanying consolidated balance sheets. We evaluate probable recovery by considering various factors, including discussions with our insurance providers, consideration of their financial strength, and review of our insurance provisions and limits. During 2017, we determined the carrying value of $1.8 million of construction in progress was not recoverable and we recorded a corresponding $1.8 million charge within impairment losses for the year ended December 31, 2017. As of December 31, 2018 and 2017, we had accrued capital expenditures of $12.4 million and $11.7 million, 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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