PROPERTY AND EQUIPMENT (Notes)

12 Months Ended

Nov. 30, 2014

Property, Plant and Equipment [Abstract]

Property and equipment consists of the following as of November 30, (in thousands):



	2013		2014
Land and leasehold improvements	$	246,138	$	247,883
Buildings, grandstands and motorsports entertainment facilities	1,520,405		1,529,904
Furniture and equipment	169,979		175,845
Construction in progress	87,318		245,642
	2,023,840		2,199,274
Less accumulated depreciation	746,864		818,084
	$	1,276,976	$	1,381,190

Depreciation expense was approximately $77.8 million, $94.0 million and $90.2 million for the years ended November 30, 2012, 2013 and 2014, respectively. The depreciation expense for the years ended November 30, 2013 and 2014 includes approximately $15.4 million and $11.1 million, respectively, of accelerated depreciation that was recorded due to the shortening the service lives of certain assets associated with DAYTONA Rising and capacity management initiatives.

- 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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