PROPERTY AND EQUIPMENT (Notes)

12 Months Ended

Nov. 30, 2013

Property, Plant and Equipment [Abstract]

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



	2012		2013
Land and leasehold improvements	$	241,393	$	246,138
Buildings, grandstands and motorsports entertainment facilities	1,541,276		1,520,405
Furniture and equipment	175,443		169,979
Construction in progress	105,128		87,318
	2,063,240		2,023,840
Less accumulated depreciation	701,054		746,864
	$	1,362,186	$	1,276,976

Depreciation expense was approximately $76.9 million, $77.8 million and $94.0 million for the years ended November 30, 2011, 2012 and 2013, respectively. The depreciation expense for the year ended November 30, 2013 includes approximately $15.4 million, or $0.20 per diluted share, net of tax, 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 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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