Property and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

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

	December 31,
	2017			2016
Land	$	6,521,000		$	5,761,000
Buildings and leasehold improvements	98,140,000			85,660,000
Furniture, fixtures and equipment	42,888,000			37,401,000
	147,549,000			128,822,000
Less: accumulated depreciation	(78,345,000		)	(69,022,000		)
Net property and equipment	$	69,204,000		$	59,800,000

As discussed further in Note 5, "Long-term Debt, Interest Rate Swap and Capitalized Lease Obligations", 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.