Property and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment as of December 31 consisted of the following:

(in thousands)	2014			2013
Land and land interests	$	30,360		$	23,646
Buildings and leasehold improvements	138,104			139,889
Equipment and other	319,435			294,409
Gross property and equipment	487,899			457,944
Accumulated depreciation	(288,328		)	(267,614		)
Property and equipment, net	$	199,571		$	190,330

Included in the “Equipment and other” caption above are capitalized costs incurred in developing or obtaining internal use software. The net carrying amount of capitalized software was $17.0 million and $13.9 million as of December 31, 2014 and 2013, respectively.

Included in the “Land and land interests” caption above are certain leasehold interests in land within the Travel & Recreation Group for which the Company is considered to have perpetual use rights. The carrying amount of these leasehold interests was $9.1 million and $10.0 million at December 31, 2014 and 2013, respectively. These land interests are not subject to amortization.

Depreciation expense was $28.1 million, $27.4 million and $30.0 million for 2014, 2013 and 2012, respectively.

During 2014 and 2013, Viad recorded impairment charges of $0.9 million and $1.0 million at the Marketing & Events Group primarily related to the write off of certain internally developed software. These impairment losses are included in the consolidated statements of operations under the caption “Other impairment charges.”