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Property and Equipment | 12 Months Ended
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Dec. 31, 2019
Property Plant And Equipment [Abstract] |
Property and Equipment | Note 7. Property and Equipment Property and equipment consisted of the following:
|  | December 31, |
(in thousands) |  | 2019 |  |  | 2018 |
Land and land interests(1) |  | $ | 34,532 |  |  | $ | 32,887 |
Buildings and leasehold improvements |  |  | 377,754 |  |  |  | 238,995 |
Equipment and other |  |  | 417,239 |  |  |  | 383,284 |
Gross property and equipment |  |  | 829,525 |  |  |  | 655,166 |
Accumulated depreciation |  |  | (353,974 | ) |  |  | (321,319 | )
Property and equipment, net (excluding finance leases) |  |  | 475,551 |  |  |  | 333,847 |
Finance lease right-of-use assets, net |  |  | 25,350 |  |  |  | — |
Property and equipment, net |  | $ | 500,901 |  |  | $ | 333,847 |
(1) | Land and land interests include certain leasehold interests in land within Pursuit for which we are considered to have perpetual use rights. The carrying amount of these leasehold interests was $8.2 million as of December 31, 2019 and $7.8 million as of December 31, 2018. The increase was due to additional purchased land in 2019. These land interests are not subject to amortization.
Depreciation expense was $45.6 million during 2019, $45.8 million during 2018, and $42.7 million during 2017. Property and equipment purchased through accounts payable and accrued liabilities increased $4.2 million during 2019, decreased $1.9 million during 2018, and increased $2.3 million during 2017. We recorded asset impairment charges to equipment of $3.8 million during the fourth quarter of 2019 primarily related to our audio-visual production business in the United Kingdom. On December 29, 2016, the Mount Royal Hotel in Banff, Canada was damaged by a fire and closed from December 2016 through June 2018 for reconstruction. During 2017, we resolved our property and business interruption insurance claims related to the fire for a total of $36.3 million of which $29.3 million was recorded as an impairment recovery (partially offset by impairment charges of $0.2 million) related to construction costs to re-open the hotel.

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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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