Property and Equipment

12 Months Ended

Mar. 31, 2013

Property, Plant and Equipment [Abstract]

Property and equipment consisted of the following (dollars in thousands):



	March 31,
	2013			2012
Furniture, fixtures and computer equipment	$	9,287		$	8,410
Leasehold improvements	3,175			1,904
Capitalized software⁽¹⁾	21,725			17,564
	34,187			27,878
Less accumulated depreciation and amortization	(19,925		)	(17,032		)
	$	14,262		$	10,846

(1) Includes $1.9 million and $1.5 million of capitalized costs associated with software projects which are still in the application development stage as of March 31, 2013 and 2012, respectively, and, as such, are not being amortized.

Depreciation expense was $4.1 million, $3.5 million and $2.8 million in Fiscal 2013, 2012 and 2011, respectively. Amortization expense related to capitalized software, included in the depreciation amounts above, was $2.8 million, $2.3 million and $1.9 million in Fiscal 2013, 2012 and 2011, respectively. Accumulated amortization related to capitalized software was $12.0 million and $9.3 million at March 31, 2013 and 2012, respectively. Amortization expense related to capitalized software no longer in the application development stage over the next five fiscal years and thereafter as of March 31, 2013 is expected to be as follows (in thousands):



2014	$	2,756
2015	2,214
2016	1,582
2017	936
2018	301
Thereafter	—
	$	7,789

- 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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