Property and Equipment, Net

6 Months Ended

Jun. 30, 2015

Property, Plant and Equipment [Abstract]

Property and equipment, net as of June 30, 2015 and December 31, 2014 consists of the following:



(in thousands)	2015			2014
Land	$	4,000		$	4,000
Buildings	230			230
Furniture and equipment	81,503			91,397
Capitalized software	714,109			701,482
Leasehold improvements	29,747			30,001
	829,589			827,110
Less accumulated depreciation	(478,620		)	(458,496		)
Property and equipment, net	$	350,969		$	368,614

Depreciation expense for property and equipment was approximately $19.2 million and $17.1 million for the three months ended June 30, 2015 and 2014, respectively, and $37.1 million and $31.0 million for the six months ended June 30, 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.