Properties And Equipment

12 Months Ended

Dec. 31, 2020

Properties And Equipment [Abstract]

Properties And Equipment

NOTE 6 – PROPERTIES AND EQUIPMENT

Operating Property, Net

Property associated with our operating activities is summarized as follows:

	December 31,
(Dollars in thousands)	2020		2019
Land	$	82,286	$	75,663
Building and improvements		253,419		149,852
Leasehold improvements		59,054		56,912
Fixtures and equipment		201,518		186,949
Construction-in-progress		9,285		5,484
Total cost		605,562		474,860
Less: accumulated depreciation		(252,437)		(216,722)
Operating Properties, net	$	353,125	$	258,138

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, 2020 and 2019 are as follows:

	December 31,
(Dollars in thousands)	2020		2019
Building and improvements
Gross balance	$	153,643	$	67,766
Less: Accumulated depreciation		(26,107)		(20,220)
Net Book Value	$	127,536	$	47,546

Depreciation expense for operating property was $21.5 million, $22.0 million, and $19.5 million for the year ended December 31, 2020, 2019 and 2018, respectively.

Investment and Development Property

Investment and development property is summarized as follows:

	December 31,
(Dollars in thousands)	2020		2019
Land	$	5,936	$	24,446
Building		—		1,900
Construction-in-progress (including capitalized interest)		5,634		87,678
Investment and development property, net	$	11,570	$	114,024

For the year ended December 31, 2020 and 2019, we capitalized interest charges of $2.4 million and $6.2 million pertaining to our on-going development projects.