PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2012

4.	PROPERTY AND EQUIPMENT

Major classes of property and equipment follow:


	As of
	March 31,			December 31,
	2012			2011
	(in thousands)

Building and improvements	$	74,882		$	75,076
Furniture and equipment		38,038			36,863

		112,920			111,939
Less: accumulated depreciation		(39,871	)		(38,162	)

Property and equipment - net	$	73,049		$	73,777

Depreciation expense was $1.8 million and $1.4 million during the three months ended March 31, 2012 and 2011, 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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