Property and Equipment, Net

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment and Asset Retirement Obligation [Abstract]

Property and Equipment, Net (in thousands)



December 31,	2011		2010
Land and land improvements	$	124,216	$	120,342
Quarry property	175,612		174,231
Buildings and leasehold improvements	81,272		85,655
Equipment and vehicles	733,158		778,443
Office furniture and equipment	55,570		42,509
Property and equipment	1,169,828		1,201,180
Less: accumulated depreciation and depletion	722,688		727,573
Property and equipment, net	$	447,140	$	473,607

Depreciation and depletion expense for the years ended December 31, 2011, 2010 and 2009 was $56.0 million, $64.9 million and $74.7 million, respectively. We capitalized interest costs related to certain self-constructed assets of $7.4 million in 2011 and $8.1 million in 2010 of which $6.3 million and $7.8 million, respectively, were included in real estate held for development and sale and $1.1 million and $0.3 million, respectively, were included in property and equipment on our consolidated balance sheets.

We have recorded liabilities associated with our legally required obligations to reclaim owned and leased quarry property and related facilities. As of December 31, 2011 and 2010, approximately $3.9 million and $5.6 million, respectively, of our asset retirement obligations are included in accrued expenses and other current liabilities and approximately $19.3 million and $17.3 million, respectively, are included in other long-term liabilities on our consolidated balance sheets.

The following is a reconciliation of these asset retirement obligations (in thousands):



December 31,	2011			2010
Beginning balance	$	22,900		$	19,715
Revisions to estimates	(943		)	1,327
Liabilities incurred	471			1,217
Liabilities settled	(496		)	(628		)
Accretion	1,276			1,269
Ending balance	$	23,208		$	22,900

- 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. The entire disclosure for an asset retirement obligation and the associated long-lived asset. An asset retirement obligation is a legal obligation associated with the disposal or retirement from service of a tangible long-lived asset that results from the acquisition, construction or development, or the normal operations of a long-lived asset, except for certain obligations of lessees.

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