Property and Equipment (Tables)

3 Months Ended

Mar. 31, 2019

Property, Plant and Equipment [Abstract]

Schedule of property and equipment, net

Property and equipment, net, consisted of the following:

(in thousands)	March 31, 2019			December 31, 2018
Property and equipment - non-Master Leases
Land and improvements	$	343,987		$	343,987
Building, vessels and improvements	347,479			342,944
Furniture, fixtures and equipment	1,599,050			1,565,830
Leasehold improvements	153,872			152,943
Construction in progress	35,467			25,473
	2,479,855			2,431,177
Less: Accumulated depreciation	(1,442,955		)	(1,400,198		)
	1,036,900			1,030,979
Property and equipment - Master Leases
Land and improvements (1)	1,525,934			2,970,969
Building, vessels and improvements (2)	3,664,611			3,845,062
	5,190,545			6,816,031
Less: Accumulated depreciation	(999,523		)	(978,242		)
	4,191,022			5,837,789
Property and equipment, net	$	5,227,922		$	6,868,768

(1) Upon adoption of ASC 842, approximately $1.4 billion of land was derecognized and replaced with operating lease ROU assets based on the net present value of future lease payments. See Note 3, “New Accounting Pronouncements.”

(2)

Upon adoption of ASC 842, $180.4 million of building and improvements, gross, was derecognized and replaced with finance lease ROU assets based on the net present value of future lease payments. See Note 3, “New Accounting Pronouncements.”