PROPERTY AND EQUIPMENT:

12 Months Ended

Mar. 31, 2015

8.PROPERTY AND EQUIPMENT:

Property and equipment, some of which has been pledged as collateral for long-term debt, is summarized as follows (dollars in thousands):

	March 31, 2015		March 31, 2014
Land	$	6,737	$	6,737
Buildings and improvements	253,236		273,451
Data processing equipment	426,005		520,927
Office furniture and other equipment	37,028		51,121
	723,006		852,236
Less accumulated depreciation and amortization	502,416		635,330
	$	220,590	$	216,906

Depreciation expense on property and equipment (including amortization of property and equipment under capitalized leases) was $63.2 million, $58.3 million and $61.8 million for the years ended March 31, 2015, 2014 and 2013, respectively.

- 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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