PROPERTY AND EQUIPMENT

9 Months Ended

Sep. 30, 2012

8. PROPERTY AND EQUIPMENT

Property and equipment consist of the following:


	Successor			Predecessor
	September 30, 2012			December 31, 2011
Land and improvements	$	54,720		$	57,665
Building and improvements		383,434			417,385
Furniture, fixtures and equipment		205,192			344,825
Construction in process		260			142

		643,606			820,017
Less accumulated depreciation		(19,117	)		(243,755	)

Property and equipment, net	$	624,489		$	576,262

The above amounts as of September 30, 2012, include net fair value adjustments recorded as part of purchase accounting that increased the aggregate carrying value of property and equipment as of the Merger date (see footnote 4).

Depreciation expense for continuing operations was $11,950, $15,623 and $19,570 for the three months ended September 30, 2012 and the periods January 1, 2012 through May 4, 2012 and May 5, 2012 through September 30, 2012, respectively.

Depreciation expense for continuing operations was $12,258 and $36,655 for the three and nine months ended September 30, 2011, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. 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.

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