Property and Equipment, Net

9 Months Ended

Sep. 30, 2015

Property, Plant and Equipment [Abstract]

Property and equipment, net as of September 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	81,134			91,397
Capitalized software	718,868			701,482
Leasehold improvements	30,294			30,001
	834,526			827,110
Less accumulated depreciation	(493,533		)	(458,496		)
Property and equipment, net	$	340,993		$	368,614

For the three and nine months ended September 30, 2014, we recorded a gain of $13.9 million from the sale of real estate-related assets. Depreciation expense for property and equipment was approximately $18.8 million and $17.5 million for the three months ended September 30, 2015 and 2014, respectively, and $56.0 million and $48.5 million for the nine months ended September 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.