Property and Equipment, Net

3 Months Ended

Mar. 31, 2015

Property, Plant and Equipment [Abstract]

Property and equipment, net as of March 31, 2015 and December 31, 2014 consists of the following:



(in thousands)	2015			2014
Land	$	4,000		$	4,000
Buildings	230			230
Furniture and equipment	91,323			91,397
Capitalized software	706,601			701,482
Leasehold improvements	29,927			30,001
	832,081			827,110
Less accumulated depreciation	(472,806		)	(458,496		)
Property and equipment, net	$	359,275		$	368,614

Depreciation expense for property and equipment was approximately $17.9 million and $13.8 million for the three months ended March 31, 2015 and 2014, respectively. See Note 9 - 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 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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