Property and Equipment (Tables)

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment, Net and Depreciation Expense

Property and equipment, net, consisted of the following:

(in millions)	September 30, 2020		December 31, 2019
Property and equipment - Not Subject to Master Leases
Land and improvements	$	109.8	$	353.2
Buildings, vessels and improvements	216.6		420.4
Furniture, fixtures and equipment	1,682.7		1,598.3
Leasehold improvements	197.4		183.6
Construction in progress	89.8		59.3
	2,296.3		2,614.8
Less: Accumulated depreciation	(1,602.5)		(1,548.3)
	693.8		1,066.5
Property and equipment - Subject to Master Leases
Land and improvements	1,525.1		1,525.9
Buildings, vessels and improvements	3,645.8		3,664.6
	5,170.9		5,190.5
Less: Accumulated depreciation	(1,271.8)		(1,136.8)
	3,899.1		4,053.7
Property and equipment, net	$	4,592.9	$	5,120.2

Depreciation expense was as follows:

	For the three months ended September 30,				For the nine months ended September 30,
(in millions)	2020		2019		2020		2019
Depreciation expense (1)	$	79.7	$	97.9	$	251.0	$	291.8

(1)Of such amounts, $45.2 million, $26.5 million, $137.0 million and $119.4 million, respectively, pertained to real estate assets subject to either of our Master Leases.