PROPERTY AND EQUIPMENT-NET

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property and equipment-net consist of the following at December 31 (in thousands):



	2014			2013
Land and improvements	$	86,025		$	86,025
Buildings and improvements	38,875			31,599
Equipment, furniture, and fixtures	27,217			32,059
Construction in progress	2,151			2,288

Total cost	154,268			151,971
Less - Accumulated depreciation and amortization	(21,986		)	(16,782		)
Property and equipment - net	$	132,282		$	135,189

The gross amount of assets recorded under our capital leases as of December 31, 2014 and 2013 is $0.6 million and $0.6 million, respectively. Accumulated depreciation of assets recorded under our capital leases as of December 31, 2014 and 2013 is $0.3 million and $0.2 million, respectively.

In accordance with its policy, the Company reviews the estimated lives of its fixed assets on an ongoing basis. Substantially all of the Company’s property and equipment are pledged as collateral to secure debt (see Note 9).

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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