Property and Equipment

3 Months Ended

Mar. 31, 2013

(6)

Property and Equipment

Property and equipment at December 31, 2012 and March 31, 2013 were comprised of the following (dollars in thousands):


	December 31,			March 31,
	2012			2013
Computers and equipment	$	10,877		$	10,005
Software and development costs		54,274			56,369
Furniture and fixtures		3,291			3,291
Leasehold improvements		7,039			6,879

	$	75,481		$	76,544
Less accumulated depreciation and amortization		(50,704	)		(51,597	)

Property and equipment, net	$	24,777		$	24,947

In the three months ended March 31, 2013, the Company capitalized software development costs of $3.4 million. In the three months ended March 31, 2012 and 2013, the Company amortized $1.5 million and $1.9 million of capitalized software development costs, respectively. These costs are included in amortization and change in contingent consideration in the accompanying consolidated statements of income. At March 31, 2013, the unamortized software development costs included in property and equipment in the accompanying consolidated balance sheet was $19.3 million.

Total depreciation expense, including amortization of capitalized software development costs, in the three months ended March 31, 2012 and 2013 was $2.1 million and $2.8 million, respectively.

- 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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