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Fixed Assets

12 Months Ended

Dec. 31, 2012

NOTE 10 – Fixed Assets

The following is a summary of fixed assets as of December 31, 2012 and 2011 (in thousands):


	December 31,
	2012		2011

Furniture and equipment	$	157,974	$	147,210
Building and leasehold improvements		82,234		77,192
Property on operating leases		46,500		-
Total		286,708		224,402
Less accumulated depreciation and amortization		(145,305)		(119,662)
	$	141,403	$	104,740

For the years ended December 31, 2012, 2011 and 2010, depreciation and amortization of furniture and equipment, and leasehold improvements totaled $30.1 million, $28.3 million and $23.8 million, respectively.

As a result of the East Shore acquisition, we lease seven aircraft under operating leases. The future minimum lease payments from UAL required under operating leases at December 31, 2012 were as follows: $12.9 million in 2013, $10.4 million in 2014, $5.3 million in 2015, $1.9 million in 2016 and $1.4 million in 2017.

- 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.

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