Property and Equipment, Net

12 Months Ended

Dec. 31, 2013

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

Property and Equipment, net

Balances of major classes of assets and allowances for depreciation and depletion are included in property and equipment, net on our consolidated balance sheets as follows (in thousands):



December 31,	2013		2012
Equipment and vehicles	$	765,971	$	758,782
Quarry property	170,442		180,567
Land and land improvements	119,917		125,961
Buildings and leasehold improvements	83,494		83,245
Office furniture and equipment	70,156		67,743
Property and equipment	1,209,980		1,216,298
Less: accumulated depreciation and depletion	773,121		734,820
Property and equipment, net	$	436,859	$	481,478

Depreciation and depletion expense included in our consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011 was $62.7 million, $51.8 million and $56.0 million, respectively. We capitalized interest costs of $0.9 million, $2.3 million and $7.4 million in 2013, 2012 and 2011, respectively, related to certain self-constructed assets, of which $0.6 million, $2.1 million and $6.3 million, respectively, were included in real estate held for development and sale and $0.3 million, $0.2 million and $1.1 million, respectively, were included in property and equipment on our consolidated balance sheets.

During the year ended December 31, 2013, we recorded non-cash impairment charges of $17.8 million, all of which related to non-performing quarry sites. Of this amount, $14.7 million were restructuring charges in connection with our EIP. Refer to Note 11 for details. During the year ended December 31, 2012, we recorded an $18.0 million gain on the sale of property and equipment from the sale of an underutilized quarry. The non-EIP charge during 2013 and the sale during 2012 were related to our process of continually optimizing our assets separate from the EIP.

We have recorded liabilities associated with our legally required obligations to reclaim owned and leased quarry property and related facilities. As of December 31, 2013 and 2012, $9.8 million and $6.6 million, respectively, of our asset retirement obligations are included in accrued expenses and other current liabilities and $19.3 million and $20.0 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):



Years Ended December 31,	2013			2012
Beginning balance	$	26,576		$	23,208
Revisions to estimates	2,265			2,810
Liabilities incurred	83			154
Liabilities settled	(976		)	(885		)
Accretion	1,190			1,289
Ending balance	$	29,138		$	26,576

- 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.

+ References+ Details