Lease Restructuring Charges

6 Months Ended

Jun. 30, 2011

Lease Restructuring Charges [Abstract]

10.	LEASE RESTRUCTURING CHARGES

Effective September 24, 2010, the Company consolidated its three facilities located in the Boston, Massachusetts area, including the facilities used by CoStar, PPR, and Resolve Technology, into one facility. The consolidation of the facilities resulted in a lease restructuring charge of approximately $1.3 million recorded in general and administrative expense in the third quarter of 2010. The third quarter lease restructuring charge included amounts for the abandonment of certain lease space and the impairment of leasehold improvements. The amount of the lease restructuring charge recorded in the third quarter of 2010 was based upon management's best estimate of amounts and timing of certain events that will occur in the future. It is possible that the actual outcome of these events may differ from estimates. The Company reassesses the expected cost to complete the consolidation of the facilities at the end of each reporting period and adjusts the restructuring accrual as necessary to reflect any changes. As a result of reassessments, for the six months ended June 30, 2011, an adjustment of approximately $78,000 was recorded due to changes in the Company's assumed sublease income over the remaining lease term. Any future changes will be made to the restructuring accrual when any such differences become determinable.

The following table summarizes the amount included in accrued expenses related to these restructuring charges from December 31, 2009 to June 30, 2011 (in thousands):

	Lease Restructuring Accrual
Accrual balance at December 31, 2009	$	¾
Original charge		1,160
Rent payments made in 2010		(229	)
Accrual balance at December 31, 2010		931
Rent payments made from January 1, 2011 – March 31, 2011		(233	)
Adjustment for assumed sublease income		44
Accrual balance at March 31, 2011		742
Rent payments made from April 1, 2011 – June 30, 2011		(235	)
Adjustment for assumed sublease income		34
Accrual balance at June 30, 2011	$	541

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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