Property and Equipment

12 Months Ended

Dec. 31, 2013

3. Property and Equipment

Property and equipment, at cost, consists of the following:

	December 31, 2013			December 31, 2012

Land	$	22,214		$	21,714
Buildings and improvements		286,467			277,330
Furniture, fixtures and equipment		114,765			103,707


		423,446			402,751
Accumulated depreciation		(83,170	)		(65,257	)


	$	340,276		$	337,494

For the years ended December 31, 2013, 2012 and 2011, we recorded depreciation expense of $25,871, $22,882 and $19,097, respectively, relating to our property and equipment.

As of December 31, 2012, we had assets of $9,625 included in our property and equipment that we subsequently sold during the year ended December 31, 2013 to SNH for increased rent pursuant to the terms of our leases with SNH. As of December 31, 2013, we had $9,342 of assets included in our property and equipment that we currently expect to request that SNH purchase from us for an increase in future rent; however, we are not obligated to make these sales and SNH is not obligated to fund such amounts.

- 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.

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