PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2011

NOTE D - PROPERTY AND EQUIPMENT

Property and equipment and accumulated depreciation consist of the following:

	December 31
	2011			2010
Land and improvements	$	22,325		$	22,892
Buildings and improvements		32,963			33,462
Machinery, equipment and fixtures		12,989			13,088
Amenities construction in progress		1,484			1,064
		69,761			70,506
Less accumulated depreciation		(31,785	)		(31,216	)
	$	37,976		$	39,290

Amenities owned by AV Homes and which are not held for sale or future transfer to homeowners associations are included in property and equipment. The book values of these amenities (excluding amenities construction in progress) were $35,245 and $37,065 as of December 31, 2011 and 2010, respectively.

We review our Property and Equipment quarterly for indicators of impairment in accordance with ASC 360-10. For our amenities, which are located within our housing communities, indicators of potential impairment are similar to those of our housing communities (described above) as these factors may impact our ability to generate revenues at our amenities or cause construction costs to increase. In addition, we factor in the collectability and potential delinquency of the fees due for our amenities. There were no impairments of our amenities in 2011, 2010, or 2009.

Depreciation charged to operations during 2011, 2010 and 2009 was $2,837, $3,091 and $3,462, 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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