Property and Equipment, Net (Tables)

12 Months Ended

Dec. 31, 2012

Property and equipment consists of the following (in thousands):


	December 31,
	2012			2011
Land and improvements	$	515,538		$	436,768
Building and improvements		14,414,026			11,456,407
Furniture, fixtures, equipment and leasehold improvements		2,557,071			2,147,326
Transportation		411,671			405,156
Construction in progress		1,824,531			3,677,479

		19,722,837			18,123,136
Less — accumulated depreciation and amortization		(3,956,089	)		(3,092,157	)

	$	15,766,748		$	15,030,979

Construction in Progress

Construction in progress consists of the following (in thousands):


	December 31,
	2012		2011
Sands Cotai Central	$	913,432	$	2,902,743
Four Seasons Macao (principally the Four Seasons Apartments)		415,367		404,650
The Parisian Macao		59,510		34,492
Other		436,222		335,594

	$	1,824,531	$	3,677,479

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

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