Property And Equipment

12 Months Ended

Dec. 31, 2022

Property And Equipment [Abstract]

Properties And Equipment

NOTE 6 – PROPERTIES AND EQUIPMENT

Operating Property, Net

Property associated with our operating activities is summarized as follows:

	December 31,
(Dollars in thousands)	2022		2021
Land	$	67,392	$	69,459
Building and improvements		213,226		219,580
Leasehold improvements		64,230		58,349
Fixtures and equipment		194,753		202,837
Construction-in-progress		6,839		5,395
Total cost		546,440		555,620
Less: accumulated depreciation		(259,488)		(248,963)
Operating Properties, net	$	286,952	$	306,657

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, 2022 and 2021 are as follows:

	December 31,
(Dollars in thousands)	2022		2021
Building and improvements
Gross balance	$	136,749	$	140,028
Less: Accumulated depreciation		(26,148)		(23,923)
Net Book Value	$	110,601	$	116,105

Depreciation expense for operating property was $20.6 million, $22.0 million, and $21.5 million for the year ended December 31, 2022, 2021 and 2020, respectively.

Investment and Development Property

Investment and development property is summarized as follows:

	December 31,
(Dollars in thousands)	2022		2021
Land	$	3,857	$	4,193
Construction-in-progress (including capitalized interest)		4,935		5,377
Investment and development property, net	$	8,792	$	9,570

We did not capitalize any interest charges for the years ended December 31, 2022 our December 31, 2021, pertaining to our on-going development projects.