Property and Equipment

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Property and equipment at December 31, 2012 and 2011 consisted of the following (in thousands):



	2012			2011
Furniture, fixtures and equipment	$	6,891		$	5,776
Computers and related equipment	6,918			5,414
Computer software	32,871			27,306
Leasehold improvements	5,417			4,633
Work-in-progress	9,937			4,751
	62,034			47,880
Less -- accumulated depreciation and amortization	(35,172		)	(29,823		)
	$	26,862		$	18,057

Depreciation and amortization expense related to property and equipment was $6.7 million in 2012, $6.5 million in 2011 and $5.9 million in 2010.

The Company has capitalized costs related to its various technology initiatives. The net book value of the property and equipment related to software development was $12.1 million as of December 31, 2012 and $8.5 million as of December 31, 2011, which includes work-in-progress of $7.5 million and $3.9 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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