PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment, Net [Abstract]

As of December 31, 2014 and 2013, property and equipment, net were as follows:



	As of December 31,
	2014		2013
Computer equipment	$	8,806	$	8,933
Furniture and equipment	5,352		5,438
Capitalized software costs	25,228		24,665
Leasehold and building improvements	21,368		16,794
	60,754		55,830
Less: accumulated depreciation and amortization	50,914		43,841
Property and equipment, net	$	9,840	$	11,989

The Company had expenditures of approximately $1,006 and $595 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, 2014 and 2013, 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 2014, the Company experienced continued declines in the operating results of certain markets. 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 whether, on an undiscounted basis, the expected cash flows exceeded their carrying value. When the assets' carrying amount exceeds their fair value, an impairment charge is recognized in the amount by which the carrying amount exceeds the fair value of the assets. 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, 2014, the Company recorded charges for the impairment of long-lived assets of $662 within continuing operations under the caption “Impairment of long-lived assets” in the accompanying Consolidated Statements of Operations and Other Comprehensive Income (Loss), primarily from Hong Kong and France.

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, 2014 and 2013. A summary of the Company’s equipment acquired under capital lease agreements was as follows:



	As of December 31,
	2014		2013
Capital lease obligation, current	$	77	$	—
Capital lease obligation, non-current	$	348	$	—

The Company acquired $557 and $0 of property and equipment under capital lease agreements for the years ended December 31, 2014 and 2013, respectively. Capital expenditures for the year ended December 31, 2014 included $1,221 of landlord-funded tenant improvements for the Company's leased properties in 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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