Property And Equipment

12 Months Ended

Dec. 31, 2011

Note C. Property and Equipment

Property and equipment at December 31 consists of:


	(in thousands)
	2011			2010
Land	$	770		$	770
Land improvements		1,619			1,551
Buildings		4,583			4,583
Building improvements		24,883			24,824
Vehicles		220			187
Furniture, fixtures and equipment		4,281			3,816

		36,356			35,731
Less—Accumulated depreciation		(8,862	)		(7,601	)

	$	27,494		$	28,130

Depreciation expense was approximately $1.3 million and $1.2 million for years ended December 31, 2011 and 2010, respectively.

The VGMs in the Company's facility are owned by the NYL and, accordingly, its consolidated financial statements include neither the cost nor the depreciation of those devices.

- 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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