Properties And Equipment

12 Months Ended

Dec. 31, 2024

Properties And Equipment [Abstract]

Properties And Equipment

NOTE 7 – PROPERTIES AND EQUIPMENT

Operating Property, Net

Property associated with our operating activities is summarized as follows:

	December 31,
(Dollars in thousands)	2024		2023
Land	$	47,267	$	61,095
Building and improvements		166,451		205,821
Leasehold improvements		49,444		53,984
Fixtures and equipment		143,773		155,156
Construction-in-progress		1,987		4,290
Total cost		408,922		480,346
Less: accumulated depreciation		(194,228)		(217,929)
Operating Properties, net	$	214,694	$	262,417

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, 2024 and 2023 are as follows:

	December 31,
(Dollars in thousands)	2024		2023
Building and improvements
Gross balance	$	113,424	$	127,222
Less: Accumulated depreciation		(21,692)		(23,270)
Net Book Value	$	91,732	$	103,952

Depreciation expense for operating property was $15.5 million, $18.3 million, and $20.6 million for the year ended December 31, 2024, 2023 and 2022, respectively.

Investment and Development Property

Investment and development property is summarized as follows:

	December 31,
(Dollars in thousands)	2024		2023
Land	$	—	$	3,856
Construction-in-progress (including capitalized interest)		—		4,933
Investment and development property, net	$	—	$	8,789

We did not capitalize any interest charges for the years ended December 31, 2024 or December 31, 2023, pertaining to our on-going development projects.