Property and Equipment

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

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



	December 31,
	2012			2011

Land	$	2,364,000		$	2,364,000
Buildings and leasehold improvements	59,480,000			58,707,000
Furniture, fixtures and equipment	28,952,000			26,950,000
	90,796,000			88,021,000
Less: accumulated depreciation	(49,927,000		)	(45,463,000		)
Net property and equipment	$	40,869,000		$	42,558,000

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 7, the Company has consolidated the assets and liabilities of a real estate developers interest in a center the Company leases.

- 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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