Property and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

PROPERTY AND EQUIPMENT

Property and equipment, net is comprised of the following:

	As of December 31,
(in millions)	2018			2017
Grandstands and buildings	$	532.8		$	439.8
Equipment	356.3			286.7
Tracks and other improvements	207.3			177.9
Land	140.5			131.7
Furniture and fixtures	73.3			62.5
Construction in progress	7.0			23.5
	1,317.2			1,122.1
Accumulated depreciation	(559.7		)	(514.1		)
Total	$	757.5		$	608.0

Depreciation expense was $57.6 million in 2018, $49.1 million in 2017 and $49.1 million in 2016 and is classified in operating expense in the accompanying consolidated statements of comprehensive income.

During the fourth quarter of 2017, the Company recorded a $13.7 million non-cash impairment charge related to certain iGaming assets included in our Online Wagering segment. The impairment was due to a change in the Company's planned usage of these assets.

In November 2016, we completed the sale of 61 acres of excess, undeveloped land at Calder Race Course ("Calder Racing") for which we received total proceeds of $25.6 million. We recognized a gain of $23.7 million on the sale of the Calder land, which is included in operating expenses in the accompanying consolidated statements of comprehensive income.