Property And Equipment

12 Months Ended

Dec. 31, 2016

NOTE 5 – Property and Equipment

Operating Property, Net

Property associated with our operating activities is summarized as follows:


(Dollars in thousands)	December 31, 2016		December 31, 2015
Land	$	73,803	$	70,063
Building and improvements		122,863		126,622
Leasehold improvements		46,902		46,874
Fixtures and equipment		118,180		112,423
Construction-in-progress		11,517		7,825
Total cost		373,265		363,807
Less: accumulated depreciation		(161,379)		(153,509)
Operating property, net	$	211,886	$	210,298

Of our total operating properties as disclosed above, the gross and carrying amounts of the portion of our properties currently on lease or held for leasing as of December 31, 2016 are as follows:


(Dollars in thousands)	Gross		Accumulated Depreciation		Net Book Value
Building and improvements	$	33,879	$	9,982	$	23,897

Depreciation expense for operating property was $15.1 million, $13.6 million, and $14.4 million for the year ended December 31, 2016, 2015 and 2014, respectively.

Investment and Development Property

Investment and development property is summarized as follows:


(Dollars in thousands)	December 31, 2016		December 31, 2015
Land	$	24,616	$	21,434
Building		1,900		--
Construction-in-progress (including capitalized interest)		17,171		1,568
Investment and development property, net	$	43,687	$	23,002

For the year ended December 31, 2016, we capitalized interest charges of $297,000 pertaining to our on-going development projects.