Description of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Description of Business and Summary of Significant Accounting Policies [Abstract]

Impacts of Adopting ASU 2016-02

The cumulative effect of the significant changes made to our consolidated January 1, 2019 balance sheet for the adoption of the new standard were as follows:

(in thousands)	Balance at December 31, 2018		Adjustments for New Standard			Balance at January 1, 2019
Property and income, net	$	216,852	$	(53,519	)	$	163,333
Right-of-use lease assets		—		177,868			177,868
Deferred income taxes - asset		12,544		(2,275	)		10,269
Lease liabilities		—		175,377			175,377
Lease obligations		50,803		(50,803	)		—
Other liabilities		30,539		(9,470	)		21,069
Retained earnings		282,366		6,824			289,190

Estimated Useful Lives of Property and Equipment

Estimated useful lives for financial reporting purposes are as follows:

Buildings	25 – 33 years
Improvements	5 – 15 years
Furniture and Fixtures	3 – 15 years
Equipment	3 – 15 years
Buildings under lease	15 years