Properties And Equipment

12 Months Ended

Dec. 31, 2023

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)	2023		2022
Land	$	61,095	$	67,392
Building and improvements		205,821		213,226
Leasehold improvements		53,984		64,230
Fixtures and equipment		155,156		194,753
Construction-in-progress		4,290		6,839
Total cost		480,346		546,440
Less: accumulated depreciation		(217,929)		(259,488)
Operating Properties, net	$	262,417	$	286,952

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, 2023 and 2022 are as follows:

	December 31,
(Dollars in thousands)	2023		2022
Building and improvements
Gross balance	$	127,222	$	136,749
Less: Accumulated depreciation		(23,270)		(26,148)
Net Book Value	$	103,952	$	110,601

Depreciation expense for operating property was $18.3 million, $20.6 million, and $22.0 million for the year ended December 31, 2023, 2022 and 2021, respectively.

Investment and Development Property

Investment and development property is summarized as follows:

	December 31,
(Dollars in thousands)	2023		2022
Land	$	3,856	$	3,857
Construction-in-progress (including capitalized interest)		4,933		4,935
Investment and development property, net	$	8,789	$	8,792

We did not capitalize any interest charges for the years ended December 31, 2023 or December 31, 2022, pertaining to our on-going development projects.