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Property And Equipment | 6 Months Ended
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Jun. 30, 2019
Property And Equipment [Abstract] |
Property And Equipment | Note 5 – Property and Equipment ﻿ Operating Property, net ﻿ As of June 30, 2019 and December 31, 2018, property associated with our operating activities is summarized as follows: ﻿ ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | June 30, |  | December 31,
﻿(Dollars in thousands) |  | 2019 |  | 2018
﻿Land |  | $ | 75,518 |  | $ | 75,689
﻿Building and improvements |  |  | 149,211 |  |  | 149,734
﻿Leasehold improvements |  |  | 56,667 |  |  | 55,299
﻿Fixtures and equipment |  |  | 172,443 |  |  | 167,943
﻿Construction-in-progress |  |  | 6,885 |  |  | 3,478
﻿Total cost |  |  | 460,724 |  |  | 452,143
﻿Less: accumulated depreciation |  |  | (204,963) |  |  | (194,476)
﻿Operating property, net |  | $ | 255,761 |  | $ | 257,667
﻿ Depreciation expense for operating property was $5.4 million and $10.8 million for the quarter and six months ended June 30, 2019 and $5.4 million and $10.2 million for the quarter and six months ended June 30, 2018, respectively. ﻿ Investment and Development Property, net ﻿ As of June 30, 2019 and December 31, 2018, our investment and development property is summarized below: ﻿
﻿ |  |  |  |  |  |
﻿ |  |  |  |  |  |
﻿ |  | June 30, |  | December 31,
﻿(Dollars in thousands) |  | 2019 |  | 2018
﻿Land |  | $ | 24,363 |  | $ | 24,371
﻿Building |  |  | 1,900 |  |  | 1,900
﻿Construction-in-progress (including capitalized interest) |  |  | 75,503 |  |  | 60,533
﻿Investment and development property |  | $ | 101,766 |  | $ | 86,804
﻿ Construction-in-Progress – Operating and Investing Properties ﻿ Construction-in-Progress balances are included in both our operating and development properties. The balances of our major projects along with the movements for the six months ended June 30, 2019 are shown below: ﻿ ﻿
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿ |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
﻿(Dollars in thousands) |  | Balance, December 31, 2018 |  | Additions during the period(1) |  | Completed during the period |  | Foreign currency translation |  | Balance, June 30, 2019
﻿Union Square development |  | $ | 55,634 |  | $ | 14,282 |  | $ | — |  | $ | — |  | $ | 69,916
﻿Courtenay Central development |  |  | 5,571 |  |  | 398 |  |  | — |  |  | — |  |  | 5,969
﻿Cinema developments and improvements |  |  | 1,664 |  |  | 8,842 |  |  | (6,129) |  |  | 7 |  |  | 4,384
﻿Other real estate projects |  |  | 1,142 |  |  | 1,104 |  |  | (95) |  |  | (32) |  |  | 2,119
﻿Total |  | $ | 64,011 |  | $ | 24,626 |  | $ | (6,224) |  | $ | (25) |  | $ | 82,388
﻿
| (1) |  | Includes capitalized interest of $1.5 million and $2.7 million for the quarter and six months ended June 30, 2019.
﻿ Real Estate Transactions ﻿ Purchase of Income Producing Property at Auburn/Redyard, Australia – On June 29, 2018, we added 20,870 square feet of land, improved with a 16,830 square foot office building, to our Auburn/Redyard entertainment-themed center (“ETC”). The property was acquired at auction for $3.5 million (AU$4.5 million) and is bordered by our existing ETC on three sides. The property is leased to Telstra through July 2022. This lease will allow us time to plan for the efficient integration of the property into our ETC. With this acquisition, Auburn/Redyard now represents approximately 519,992 square feet (48,309 square meters) of land, with approximately 1,620 feet (498 meters) of uninterrupted frontage to Parramatta Road, a major Sydney arterial motorway. ﻿ Purchase of Land at Cannon Park in Townsville, Australia – On June 13, 2018, we acquired a 163,000 square foot (15,150 square meter) parcel of land at our Cannon Park ETC, in connection with the restructuring of our relationship with the adjacent land owner. Prior to the restructuring, this parcel was commonly owned by us and the adjoining land owner. In the restructuring, the adjoining land owner conveyed to us its interest in the parcel for AU$1. We granted the adjoining land owner certain access rights with respect to that parcel.

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- Definition Disclosure of real estate assets (normally turning over within one year or one business cycle if longer) that are sold, held for sale apart from normal operations and anticipated to be sold within one year, real estate property currently under development, real estate currently held for development and long-lived, property that is physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, building and production equipment. 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. This element may be used as a single block of text to include the entire PPE disclosure, including data and tables. + References No definition available. + Details
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- References No definition available. + Details
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