Furniture, Equipment and Leasehold Improvements, Net

12 Months Ended

Dec. 31, 2011

Furniture, Equipment and Leasehold Improvements, Net [Abstract]

Furniture, Equipment and Leasehold Improvements, Net

9. Furniture, Equipment and Leasehold Improvements, Net

Furniture, equipment and leasehold improvements, net consist of:

	December 31,
	2011			2010
	(in thousands)

Furniture and equipment	$	564,958		$	547,961
Leasehold improvements		348,987			330,448
		913,945			878,409
Less: Accumulated depreciation and amortization		(640,841	)		(577,967	)
Furniture, equipment and leasehold improvements, net	$	273,104		$	300,442

Depreciation and amortization expense on furniture, equipment and leasehold improvements were $60.9 million, $59.6 million and $61.4 million for the years ended December 31, 2011, 2010 and 2009, respectively.

During 2011, we recorded $7.2 million in pre-tax real estate charges. Included in the charges was $4.6 million worth of leasehold improvements, furniture and equipment we wrote off related to the respective spaces. During 2010, we recorded $101.7 million in pre-tax real estate charges in connection with our workforce reductions commencing in 2008. Included in the charges was $25.5 million worth of leasehold improvements, furniture and equipment we wrote off related to the space. See Note 2 for further discussion of the real estate charges.

- 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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