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v3.23.1

Property And Equipment | 3 Months Ended
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Mar. 31, 2023
Property And Equipment [Abstract] |
Property And Equipment | Note 6 – Property and Equipment Operating Property, net Property associated with our operating activities as at March 31, 2023 and December 31, 2022, is summarized as follows:
|  | March 31, |  | December 31,
(Dollars in thousands) |  | 2023 |  | 2022
Land |  | $ | 66,977 |  | $ | 67,392
Building and improvements |  |  | 212,055 |  |  | 213,226
Leasehold improvements |  |  | 62,163 |  |  | 64,230
Fixtures and equipment |  |  | 192,088 |  |  | 194,753
Construction-in-progress |  |  | 7,062 |  |  | 6,839
Total cost |  |  | 540,345 |  |  | 546,440
Less: accumulated depreciation |  |  | (258,459) |  |  | (259,488)
Operating property, net |  | $ | 281,886 |  | $ | 286,952
Depreciation expense for operating property was $4.6 million for the three months ended March 31, 2023, and $5.4 million for the three months ended March 31, 2022. Investment and Development Property, net Our investment and development property as of March 31, 2023 and December 31, 2022, is summarized below:
|  | March 31, |  | December 31,
(Dollars in thousands) |  | 2023 |  | 2022
Land |  | $ | 3,814 |  | $ | 3,857
Construction-in-progress (including capitalized interest) |  |  | 4,880 |  |  | 4,935
Investment and development property |  | $ | 8,694 |  | $ | 8,792
Construction-in-Progress – Operating and Investment 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 three months ended March 31, 2023 are shown below:
(Dollars in thousands) |  | Balance, ‎December 31, ‎2022 |  | Additions during the period |  | Completed ‎during the ‎period |  | Foreign ‎currency ‎translation |  | Balance, ‎March 31, ‎2023
Courtenay Central development |  |  | 6,380 |  |  | — |  |  | — |  |  | (69) |  |  | 6,311
Cinema developments and improvements |  |  | 2,990 |  |  | 437 |  |  | (444) |  |  | (21) |  |  | 2,962
Other real estate projects |  |  | 2,404 |  |  | 343 |  |  | (72) |  |  | (6) |  |  | 2,669
Total |  | $ | 11,774 |  | $ | 780 |  | $ | (516) |  | $ | (96) |  | $ | 11,942

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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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