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Property and Equipment
12 Months Ended
Dec. 31, 2017
Property Plant And Equipment [Abstract]  
Property and Equipment

Note 6. Property and Equipment

Property and equipment consisted of the following:

 

 

 

December 31,

 

(in thousands)

 

2017

 

 

2016

 

Land and land interests(1)

 

$

32,544

 

 

$

31,670

 

Buildings and leasehold improvements

 

 

222,118

 

 

 

185,987

 

Equipment and other(2)

 

 

351,676

 

 

 

326,868

 

Gross property and equipment

 

 

606,338

 

 

 

544,525

 

Accumulated depreciation

 

 

(300,767

)

 

 

(264,667

)

Property and equipment, net

 

$

305,571

 

 

$

279,858

 

(1)

Land and land interests include certain leasehold interests in land within Pursuit for which we are considered to have perpetual use rights. The carrying amount of these leasehold interests was $8.4 million as of December 31, 2017 and $7.9 million as of December 31, 2016. These land interests are not subject to amortization.

(2)

Equipment and other includes capitalized costs incurred in developing or obtaining internal and external use software. The net carrying amount of capitalized software was $10.1 million as of December 31, 2017 and $11.9 million as of December 31, 2016.

Depreciation expense was $42.7 million for 2017, $33.6 million for 2016, and $28.1 million for 2015.

Non-cash increases to property and equipment related to assets acquired under capital leases were $2.5 million for 2017, $1.2 million for 2016, and $1.0 million for 2015. Non-cash increases to property and equipment purchases in accounts payable and accrued liabilities were $2.3 million for 2017, $0.9 million for 2016, and $2.3 million for 2015.

On December 29, 2016, the Mount Royal Hotel in Banff, Canada was damaged by a fire and closed. As a result of the fire, we recorded an impairment loss of $2.2 million against the net book value of the hotel assets. During 2017, we resolved our property and business interruption insurance claims related to the fire for a total of $36.3 million of which $29.3 million was recorded as an impairment recovery (partially offset by impairment charges of $0.2 million) related to construction costs to re-open the hotel.

During 2016, we recorded impairment charges of $0.2 million related to the write-down of certain software and buses in Pursuit. During 2015, we recorded impairment charges of $0.1 million related to the write-off of certain software in Pursuit. Impairment charges (recoveries) are included in the Consolidated Statements of Operations.