Property and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property and equipment, at cost, consists of the following:



	December 31,
	2014			2013

Land	$	3,857,000		$	3,857,000
Buildings and leasehold improvements	64,446,000			63,107,000
Furniture, fixtures and equipment	30,566,000			26,608,000
	98,869,000			93,572,000
Less: accumulated depreciation	(55,014,000		)	(48,516,000		)
Net property and equipment	$	43,855,000		$	45,056,000

As discussed further in Note 6, the property and equipment of certain skilled nursing centers are pledged as collateral for mortgage debt obligations. In addition, the Company has assets recorded as capital leased assets purchased through capitalized lease obligations. The Company capitalizes leasehold improvements which will revert back to the lessor of the property at the expiration or termination of the lease, and depreciates these improvements over the shorter of the remaining lease term or the assets' estimated useful lives.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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