Office Equipment and Leasehold Improvements

3 Months Ended

Mar. 31, 2013

Office Equipment and Leasehold Improvements

Office Equipment and Leasehold Improvements

13. Office Equipment and Leasehold Improvements

Refer to Note 1 within the footnotes to the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 for a discussion of the accounting policy related to office equipment and leasehold improvements.

Office equipment and leasehold improvements consist of the following:

(In thousands of dollars)	March 31, 2013			December 31, 2012
Communications and data processing equipment	$	5,157		$	5,149
Furniture and fixtures	2,681			3,334
Leasehold improvements	1,779			1,802
Software	770			850
Total	10,387			11,135
Less: accumulated depreciation and amortization	(5,880		)	(5,824		)
Total office equipment and leasehold improvements, net	$	4,507		$	5,311

In connection with the Homeward Transaction, office equipment and leasehold improvements with a net carrying value of approximately $0.4 million were sold to Homeward. Depreciation and amortization expense from continuing operations for the three months ended March 31, 2013 and 2012 was $0.4 million and $0.5 million, respectively.

- 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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