PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment, Net [Abstract]

As of December 31, 2013 and 2012, property and equipment, net were as follows:



	As of December 31,
	2013		2012
Computer equipment	$	9,395	$	10,889
Furniture and equipment	6,379		7,840
Capitalized software costs	26,962		28,877
Leasehold and building improvements	20,816		24,650
	63,552		72,256
Less: accumulated depreciation and amortization	49,730		52,206
Property and equipment, net	$	13,822	$	20,050

The Company had expenditures of approximately $595 and $778 for acquired property and equipment, mainly consisting of software development, fixtures, computer equipment and leasehold improvements, which had not been placed in service as of December 31, 2013 and 2012, respectively. Depreciation expense is not recorded for such assets until they are placed in service.

Impairment of Long-Lived Assets

During the fourth quarter of 2013, the Company experienced an increase in the rate of revenue decline in certain markets in which the Company operates and termination of a software project under development in the U.K. These events were deemed to be triggering events that required the Company to perform an impairment assessment with respect to long-lived assets, primarily property and equipment. With respect to these long-lived assets, the Company estimated future cash flows over their expected life, and determined that, on an undiscounted basis, the expected cash flows exceeded their carrying value. If the asset carrying amount exceeds its fair value, an impairment charge is recognized in the amount by which the carrying amount exceeds the fair value of the asset. The fair values of long-lived assets are based on the Company's own judgments about the assumptions that market participants would use in pricing the asset and on observable market data, when available. These measurements are classified as Level 3 within the fair value hierarchy. For the year ended December 31, 2013, the Company recorded charges for the impairment of long-lived assets of $1,336 under the caption “Impairment of long-lived assets” in the accompanying Consolidated Statements of Operations.

Non-Cash Capital Expenditures

The Company has acquired certain computer equipment under capital lease agreements. The current portion of the capital lease obligations are included under the caption “Accrued expenses and other current liabilities” in the Consolidated Balance Sheets and the non-current portion of the capital lease obligations are included under the caption “Other non-current liabilities” in the Consolidated Balance Sheets as of December 31, 2013 and 2012. A summary of the Company’s equipment acquired under capital lease agreements was as follows:



	As of December 31,
	2013		2012
Capital lease obligation, current	$	315	$	467
Capital lease obligation, non-current	$	9	$	324

The Company acquired nil and $61 of property and equipment under capital lease agreements for the years ended December 31, 2013 and 2012, respectively. Capital expenditures for the year ended December 31, 2012 included $3,949 of landlord-funded tenant improvements for the Company's leased property in Sydney, Australia.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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