Property, Plant and Equipment and Leasehold Intangibles, Net

6 Months Ended

Jun. 30, 2013

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, 2013			December 31, 2012
Land	$	298,260		$	296,314
Buildings and improvements		3,434,525			3,391,667
Leasehold improvements		69,434			60,186
Furniture and equipment		584,640			541,585
Resident and leasehold operating intangibles		441,657			441,603
Construction in progress		71,892			75,419
Assets under capital and financing leases		682,015			674,492
		5,582,423			5,481,266
Accumulated depreciation and amortization		(1,726,770	)		(1,601,289	)
Property, plant and equipment and leasehold intangibles, net	$	3,855,653		$	3,879,977

Long-lived assets with definite useful lives are depreciated or amortized on a straight-line basis over their estimated useful lives (or, in certain cases, the shorter of their estimated useful lives or the lease term) and are tested for impairment whenever indicators of impairment arise.

During the three and six months ended June 30, 2013, there were indicators of impairment on certain long-lived assets. The Company compared the estimated fair value of the assets to their carrying values and recorded an impairment charge for the excess of carrying value over fair value. A non-cash charge of $2.2 million within the CCRCs - Rental segment was recorded in the Company's operating results and reflected as asset impairment in the accompanying condensed consolidated statement of operations. The impairment charges are primarily due to the amount by which the carrying values of the assets exceed the fair value of the estimated selling price.

- 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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