Property and Equipment

12 Months Ended

Dec. 31, 2014

Property Plant And Equipment [Abstract]

5. Property and Equipment

As an online financial services provider, a significant amount of capital is invested in developing computer software and systems infrastructure.

Major classifications of property and equipment at December 31, 2014 and 2013 were as follows (dollars in thousands):

	As of December 31, 2014
	Cost		Accumulated Depreciation			Net
Computer Software	$	54,966	$	(32,117	)	$	22,849
Furniture, fixtures and equipment		26,690		(19,245	)		7,445
Leasehold improvements		14,587		(10,896	)		3,691
Total	$	96,243	$	(62,258	)	$	33,985

	As of December 31, 2013
	Cost		Accumulated Depreciation			Net
Computer Software	$	56,511	$	(35,014	)	$	21,497
Furniture, fixtures and equipment		25,077		(14,034	)		11,043
Leasehold improvements		14,287		(7,422	)		6,865
Total	$	95,875	$	(56,470	)	$	39,405

The Company capitalized internal software development costs of $8.6 million, $6.6 million and $8.1 million during 2014, 2013 and 2012, respectively.

The Company recognized depreciation expense of $18.7 million, $17.0 million and $13.0 million during 2014, 2013 and 2012, respectively.

- 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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