Property and Equipment, Net

9 Months Ended

Sep. 30, 2013

Note 5—Property and Equipment, Net

Property and equipment, net at September 30, 2013 and December 31, 2012 is summarized below:


	September 30, 2013			December 31, 2012
	(In thousands)
Office equipment	$	662		$	3,071
Office equipment—capital leases		213			231
Leasehold improvements		1,496			3,015

		2,371			6,317
Accumulated depreciation and amortization		(669	)		(4,267	)

Total	$	1,702		$	2,050

Depreciation and amortization expense was approximately $0.1 million and $0.3 million for each of the three and nine-month periods ended September 30, 2013 and 2012, respectively. During the three and nine-months periods ended September 30, 2013, the Company wrote-off approximately $4.0 million of fully depreciated fixed assets.

- 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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