Property and Equipment, Net

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

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



(in thousands)	2015			2014
Land	$	4,000		$	4,000
Buildings	111			230
Furniture and equipment	62,140			91,397
Capitalized software	759,925			701,482
Leasehold improvements	29,038			30,001
	855,214			827,110
Less: accumulated depreciation	(479,560		)	(458,496		)
Property and equipment, net	$	375,654		$	368,614

Depreciation expense for property and equipment was approximately $73.7 million, $68.3 million and $60.8 million for the years ended December 31, 2015, 2014 and 2013, respectively. We have reclassified $1.7 million of property and equipment, net, to assets of discontinued operations as of December 31, 2013. Further, we recognized a gain of $13.9 million on sale of property and equipment for the year ended December 31, 2014. See Note 12 - Fair Value of Financial Instruments for further discussion on property and equipment, net measured at fair value on a nonrecurring basis.