Property and Equipment

12 Months Ended

Dec. 31, 2015

6. Property and Equipment

Property and equipment, excluding property and equipment, net of accumulated depreciation of $272,000 classified as held for sale as of December 31, 2015 and presented in “Assets held for sale” in the accompanying Consolidated Balance Sheets, consist of the following (in thousands):


		As of December 31,
	Depreciable Life	2015		2014
Leasehold improvements	Shorter of estimated useful life or life of lease	$	2,258	$	2,988
Office furniture, fixtures and equipment	2 - 10 years		12,046		18,024
Equipment under capital leases	Shorter of estimated useful life or life of lease		1,274		1,642
			15,578		22,654
Less accumulated depreciation			(13,183)		(19,993)
		$	2,395	$	2,661

Depreciation expense was $1,045,000, $1,110,000 and $2,181,000 for the years ended December 31, 2015, 2014 and 2013, respectively.