Property, Plant and Equipment and Leasehold Intangibles, Net

6 Months Ended

Jun. 30, 2011

Property, Plant and Equipment and Leasehold Intangibles, Net [Abstract]

Property, Plant and Equipment and Leasehold Intangibles, Net

7. Property, Plant and Equipment and Leasehold Intangibles, Net

Property, plant and equipment and leasehold intangibles, net, which include assets under capital leases, consist of the following (dollars in thousands):

	June 30, 2011			December 31, 2010
Land	$	273,306		$	273,214
Buildings and improvements		3,019,657			3,003,788
Furniture and equipment		417,623			382,488
Resident and leasehold operating intangibles		586,254			588,633
Construction in progress		30,287			16,463
Assets under capital and financing leases		653,120			650,174
		4,980,247			4,914,760
Accumulated depreciation and amortization		(1,291,217	)		(1,177,918	)
Property, plant and equipment and leasehold intangibles, net	$	3,689,030		$	3,736,842

During the six months ended June 30, 2011, there were indicators of impairment on certain long-lived assets. The Company compared the estimated fair value of the assets (a Level 3 valuation) to their carrying value and recorded an impairment charge for the excess of carrying value over fair value. A non-cash charge of $14.8 million within the Retirement Centers and Assisted Living segments was recorded in the Company's operating results and reflected as asset impairment in the accompanying condensed consolidated statements of operations. These charges are reflected as a decrease to the gross carrying value of the asset. The impairment charges are primarily due to the amount by which the carrying values of the assets exceed the estimated selling prices.

- 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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