PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2013

Property Plant And Equipment [Abstract]

PROPERTY AND EQUIPMENT

8. PROPERTY AND EQUIPMENT

The cost basis and estimated useful lives of property and equipment for continuing operations as of December 31, 2013 and 2012 are as follows (dollars in thousands):

	December 31,
	2013			2012			Life
Land	$	2,388		$	2,388
Building and improvements		8,547			8,534		15-35 years
Computer hardware and software		148,927			152,910		3 years
Culinary equipment and library materials		21,570			21,957		10 years
Furniture, fixtures and equipment		127,471			135,276		5-10 years
Leasehold improvements		370,769			383,068		Shorter of Life of Lease or Useful Life
Vehicles		868			906		5 years
Construction in progress		1,032			1,838
		681,572			706,877
Less-Accumulated depreciation		(499,176	)		(459,089	)
Total property and equipment, net	$	182,396		$	247,788

Depreciation expense for continuing operations for the years ended December 31, 2013, 2012 and 2011, was $67.4 million, $73.3 million and $70.8 million, respectively. Depreciation expense for discontinued operations, included in income from discontinued operations, was $4.4 million, $6.1 million and $7.6 million for the years ended December 31, 2013, 2012 and 2011, respectively.

Property and equipment was affected by asset impairment charges of approximately $8.0 million for the year ended December 31, 2013 and $29.5 million for the year ended December 31, 2012, of which $2.6 million and $28.5 million, respectively, related to asset impairment charges as a result of the reduction in carrying values for schools that are being taught out. An additional $2.7 million of impairment was recorded for certain long-lived assets related to ongoing schools which are expected to generate negative cash flows through the respective lease end dates and as such the carrying values were not recoverable. The fair value for these assets was determined based upon management’s assumptions regarding an estimated percentage of replacement value for similar assets and estimated salvage values. Because the determination of the estimated fair value of these assets requires significant estimation and assumptions, these fair value measurements are categorized as Level 3 per ASC Topic 820.

In addition, we recorded $2.7 million and $1.0 million during the years ended December 31, 2013 and 2012 in asset impairment charges related to leased facilities as a result of decisions made to exit certain facilities.