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Property and Equipment

12 Months Ended

Dec. 31, 2011

Property and Equipment [Abstract]

PROPERTY AND EQUIPMENT

5.	PROPERTY AND EQUIPMENT

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


		December 31,
		2011				2010
Land		$	2,706,000			$	1,919,000
Buildings and leasehold improvements			63,108,000				54,032,000
Furniture, fixtures and equipment			27,537,000				22,739,000

		$	93,351,000			$	78,690,000

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.

As discussed further in Note 3, the Company has consolidated the assets and liabilities of a real estate developers interest in a center the Company leases.

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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