Property and Equipment

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Property and equipment consisted of the following at December 31 (in thousands):



	2012			2011
Land and improvements	$	364		$	232
Building and leasehold improvements	6,458			4,363
Furniture and fixtures	12,327			9,363
Equipment	69,535			27,792
Gross property and equipment	88,684			41,750
Less: Accumulated depreciation	(20,108		)	(13,303		)
Property and equipment, net	$	68,576		$	28,447

Depreciation expense was $7.8 million, $4.2 million, and $2.5 million for the years ended December 31, 2012, 2011 and 2010, respectively.

Capital Leases

The Company has a building and certain equipment classified as capital leases. The recorded value of the building and the equipment is included in property and equipment, net as of December 31 as follows (in thousands):



	2012			2011
Building and equipment	$	1,109		$	2,241
Less: Accumulated amortization	(396		)	(942		)
Total	$	713		$	1,299

The following is a schedule of future minimum lease payments under the capital leases with the present value of the net minimum lease payments as of December 31, 2012 (in thousands):



	Amount
Year Ending:
2013	$	293
2014	283
2015	285
2016	293
2017	302
Thereafter	794
Total minimum lease payments	2,250
Less: amount representing interest	(1,112		)
Present value of net minimum lease payments(1)	$	1,138


(1)	Reflected in the consolidated balance sheets as accrued expenses and other liabilities and other long-term liabilities of $0.1 million and $1.0 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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