Property And Equipment

12 Months Ended

Dec. 31, 2011

NOTE 6—PROPERTY AND EQUIPMENT

Property and equipment is comprised of the following (in thousands):


	2011			2010
Land	$	104,130		$	103,921
Grandstands and buildings		364,823			370,383
Equipment		155,194			118,647
Furniture and fixtures		38,280			64,077
Tracks and other improvements		80,785			75,572
Construction in progress		4,548			2,483

		747,760			735,083
Accumulated depreciation		(270,404	)		(227,607	)

	$	477,356		$	507,476

Depreciation expense was approximately $43.3 million, $36.6 million and $28.2 million for the years ended December 31, 2011, 2010 and 2009, respectively, and is classified in operating expenses in the Consolidated Statements of Net Earnings and Comprehensive Earnings.

- Definition

The entire disclosure for 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. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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