2004 Notes to Consolidated Financial Statements 2 Investments  (Dollar and Share Amounts in Thousands except Per Share Information and as Otherwise Noted)   Available-for-sale securities at December 31 consist of the following:  2004 ANNUAL REPORT – PAGE 27  2004:  Amortized  Cost  Gross  Unrealized  Gains  Gross  Unrealized  Losses  Fair Value  Federal mortgage backed security  $ 10,000  —  (120)  9,880  State and municipal bonds  14,901  80  —  14,981  Corporate bonds  13,034  104  —  13,138  Certificates of deposit or money market  2,966  —  (1)  2,965  Total available-for-sale securities  $ 40,901  184  (121)  40,964  2003:  Amortized  Cost  Gross  Unrealized  Gains  Gross  Unrealized  Losses Fair Value Federal mortgage backed security  $  11,000  49 — 11,049 State and municipal bonds  12,555  — — 12,555 Corporate bonds  7,858  —  (100)  7,758  Certificates of deposit or money market  14,505  —  —  14,505  Total available-for-sale securities  $  45,918 49 (100) 45,867 The Company recorded gains related to the Company’s available-for-sale securities. These gains were  immaterial in 2004 and 2003.  Maturities of the Company’s available for sale securities at December 31, 2004 consist of the following:  Less than 12 months  Greater than 12 months  Amortized  Cost  Fair Value  Amortized  Cost  Fair Value  Federal mortgage backed security  $ — —  10,000  9,880  State and municipal bonds  — —  14,901  14,981  Corporate bonds  2,515  2,531  10,519  10,607  Certificates of deposit or money market  2,966  2,965  — —  Total available-for-sale securities  $ 5,481  5,496  35,420  35,468  3  Property and Equipment Property and equipment as of December 31 consists of the following:  Depreciable  life in years  2004  2003  Land — $ 15,968 12,904 Buildings and improvements  31 to 39  83,628 69,224 Equipment and shelving  3 to 10  171,068 148,935 Transportation equipment  3 to 5  18,995 17,553 Construction in progress  —  21,865 17,709 311,524 266,325 Less accumulated depreciation  (118,078) (96,772) Net property and equipment  $ 193,446 169,553