Property and Equipment

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment, net consisted of the following:

	As of December 31,
	2013			2012
	(in thousands)
Buildings	$	506,056		$	—
Furniture and equipment	190,555			173,766
Leasehold improvements	163,019			123,770
Software	102,520			101,276
Computers	43,096			40,779
Construction-in-process	—			290,703
Total property and equipment, gross	1,005,246			730,294
Less: accumulated depreciation	(308,335		)	(296,685		)
Total property and equipment, net	$	696,911		$	433,609

Buildings as of December 31, 2013 and construction-in-process as of December 31, 2012, related to construction costs for the buildings at Fan Pier, which were placed in service in 2013. Please refer to Note I, "Fan Pier Leases," for further information.

Total property and equipment, gross, as of December 31, 2013 and 2012, included $76.4 million and $30.1 million, respectively, for property and equipment recorded under capital leases. Accumulated depreciation, as of December 31, 2013 and 2012, included $3.8 million and $1.1 million, respectively, for property and equipment recorded under capital leases. Included in property and equipment, net as of December 31, 2013 were $5.5 million and $0.5 million in capitalized internally developed software costs and related amortization, respectively. There were no such costs included in property and equipment, net as of December 31, 2012.

The Company recorded depreciation expense of $47.3 million, $35.7 million and $28.9 million, respectively, in 2013, 2012 and 2011.