Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Schedule of property and equipment, net and depreciation expense

Depreciation of property and equipment is recorded using the straight-line method over the shorter of the estimated useful life of the asset or the related lease term, if any, as follows:

	Years
Land improvements	15
Buildings and improvements	5 to 31
Vessels	10 to 31
Furniture, fixtures, and equipment	1 to 31

Property and equipment, net, consisted of the following:

	December 31,
(in millions)	2022		2021
Property and equipment - Not Subject to Master Leases
Land and improvements	$	137.1	$	147.6
Building, vessels and improvements	324.6		327.3
Furniture, fixtures and equipment	1,753.6		1,714.8
Leasehold improvements	353.5		292.0
Construction in progress	166.8		70.7
	2,735.6		2,552.4
Less: Accumulated depreciation	(1,708.3)		(1,634.1)
	1,027.3		918.3
Property and equipment - Subject to Master Leases
Land and improvements	1,523.2		1,523.2
Building, vessels and improvements	3,640.0		3,640.0
	5,163.2		5,163.2
Less: Accumulated depreciation	(1,675.0)		(1,499.3)
	3,488.2		3,663.9
Property and equipment, net	$	4,515.5	$	4,582.2

Depreciation expense was as follows:

	For the year ended December 31,
(in millions)	2022		2021		2020
Depreciation expense (1)	$	329.1	$	314.3	$	336.9

(1)Of such amounts, $175.6 million, $183.4 million, and $156.1 million, respectively, pertained to real estate assets subject to our Master Leases.