Note 6. Assets Held for Sale

Assets held for sale as of June 30, 2011 and December 31, 2010 were (in thousands):


	June 30,		December 31,
	2011		2010
Land and facilities	$	7,625	$	3,896
Revenue equipment		3,901		4,966

Assets held for sale	$	11,526	$	8,862

As of June 30, 2011 and December 31, 2010, assets held for sale are stated at the lower of depreciated cost or fair value less estimated selling expenses. The Company expects to sell these assets within the next twelve months. The increase in assets held for sale during the six months ended June 30, 2011 was the result of management identifying a property at its Mira Loma, California facility as an asset held for sale with a carrying value of $4.9 million in the first quarter of 2011. This increase was offset by the sale of a property located in Laredo, Texas previously identified as an asset held for sale with a carrying value of $1.2 million in the first quarter of 2011.

In the first quarter of 2010, management undertook an evaluation of the Company’s revenue equipment and concluded that it would be more cost effective to dispose of approximately 2,500 trailers through scrap or sale rather than to maintain them in the operating fleet. These trailers met the requirements for assets held for sale treatment and were reclassified as such, with a related $1.3 million pre-tax impairment charge being recorded during the period as discussed in Note 11.