Property and Equipment

9 Months Ended

Sep. 30, 2011

Note 5. Property and Equipment

Property and equipment consisted of the following:


	September 30,			December 31,
	2011			2010
	(in thousands)
Land	$	17,846		$	9,139
Buildings and leasehold improvements		109,729			89,945
Equipment and other		306,617			299,558

		434,192			398,642
Accumulated depreciation		(260,170	)		(249,296	)

Property and equipment, net	$	174,022		$	149,346

Depreciation expense for the three months ended September 30, 2011 and 2010 was $7.4 million and $7.1 million, respectively, and for the nine months ended September 30, 2011 and 2010 was $21.3 million and $20.6 million, respectively.

In March 2010, Viad completed the sale of a non-strategic real estate asset within the Travel & Recreation Group consisting of land, building and related improvements for $14.3 million (net of selling costs).

- 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.

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