Property and Equipment, Net

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Property and equipment, net as of December 31, 2012 and 2011 consists of the following:



(in thousands)	2012			2011
Land	$	4,000		$	13,204
Buildings	10,780			13,396
Furniture and equipment	89,870			104,081
Capitalized software	470,469			449,990
Leasehold improvements	47,879			42,873
	622,998			623,544
Less accumulated depreciation	(436,381		)	(409,307		)
Property and equipment, net	$	186,617		$	214,237

Depreciation expense for property and equipment was approximately $77.3 million, $63.7 million and $54.8 million for the years ended December 31, 2012, 2011 and 2010, respectively. We have reclassified $3.0 million of property and equipment, net, to assets of discontinued operations as of December 31, 2011. Further, we recognized $8.1 million of gain on sale of property and equipment for the year ended December 31, 2011. See Note 13 - Fair Value of Financial Instruments for further discussion on property and equipment, net measured at fair value on a nonrecurring basis.

- 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.

+ References+ Details