Property and Equipment, Net

12 Months Ended

Dec. 31, 2012

4. Property and Equipment, Net

Property and equipment, net, was comprised of the following at December 31:


*In thousands*	2012			2011
Leasehold improvements	$	24,020		$	22,252
Construction in progress		—			699
Equipment and furniture		19,876			17,032

		43,896			39,983
Less accumulated depreciation and amortization		(36,215	)		(33,372	)

	$	7,681		$	6,611

Depreciation and amortization expense for the years ended December 31, 2012, 2011 and 2010 was $2.8 million, $2.8 million and $3.0 million, respectively.

The Company leases certain assets under capital leases having terms up to four years. Assets under capital leases included in property and equipment were as follows at December 31:


*In thousands*	2012			2011
Equipment and furniture	$	392		$	392
Less accumulated depreciation and amortization		(336	)		(257	)

	$	56		$	135

- 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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