Properties And Equipment

12 Months Ended

Dec. 31, 2019

Properties And Equipment [Abstract]

Properties And Equipment

NOTE 5 – PROPERTIES AND EQUIPMENT

Operating Property, Net 

Property associated with our operating activities is summarized as follows:

	December 31,
(Dollars in thousands)	2019		2018
Land	$	75,663	$	75,689
Building and improvements		149,852		149,734
Leasehold improvements		56,912		55,299
Fixtures and equipment		186,949		167,943
Construction-in-progress		5,484		3,478
Total cost		474,860		452,143
Less: accumulated depreciation		(216,722)		(194,476)
Operating Properties, net	$	258,138	$	257,667

Of our total operating properties as disclosed above, the gross and carrying amounts of the portion of our properties currently on lease or held for leasing as of December 31, 2019 and 2018 are as follows:

	December 31,
(Dollars in thousands)	2019		2018
Building and improvements
Gross balance	$	67,766	$	67,887
Less: Accumulated depreciation		20,220		17,709
Net Book Value	$	47,546	$	50,178

Depreciation expense for operating property was $22.0 million, $19.5 million, and $14.0 million for the year ended December 31, 2019,  2018 and 2017, respectively.

Investment and Development Property

Investment and development property is summarized as follows:

	December 31,
(Dollars in thousands)	2019		2018
Land	$	24,446	$	24,371
Building		1,900		1,900
Construction-in-progress (including capitalized interest)		87,678		60,533
Investment and development property, net	$	114,024	$	86,804

For the year ended December 31, 2019 and 2018, we capitalized interest charges of $6.2 million and $3.3 million pertaining to our on-going development projects.