Property and Equipment

3 Months Ended

Mar. 31, 2013

5. Property and Equipment

Property and equipment, net for the Partnership consisted of the following at (in thousands):

	March 31, 2013			December 31, 2012
Land	$	97,717		$	98,117
Buildings and improvements	107,674			108,508
Leasehold improvements	5,163			4,260
Equipment and other	60,953			60,972
Property and equipment, at cost	271,507			271,857
Less: Accumulated depreciation and amortization	(32,560		)	(28,835		)
Property and equipment, net	$	238,947		$	243,022

Depreciation expense, including amortization of assets recorded under sale-leasebacks and depreciation of assets under capital leases obligations, was approximately $3.8 million and $3.9 million for the three months ended March 31, 2013 and 2012, 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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