Property and Equipment, Net

12 Months Ended

Dec. 31, 2014

Property Plant And Equipment [Abstract]

Property and Equipment, Net

NOTE 5. PROPERTY AND EQUIPMENT, NET

Property and equipment, net, consist of the following (in thousands):

	December 31,			December 31,
	2014			2013
Software	$	53,349		$	43,513
Office equipment, including data processing equipment		18,550			14,667
Leasehold improvements		7,092			6,836
Furniture, fixtures, and equipment		6,450			3,998
Projects in progress		6,786			5,106
		92,227			74,120
Accumulated depreciation		(59,929	)		(48,430	)
Property and equipment, net	$	32,298		$	25,690

Software and furniture, fixtures, and equipment include amounts for assets under capital leases of $1.4 million at December 31, 2014 and 2013. Accumulated depreciation of these assets was $0.9 million and $0.5 million at December 31, 2014 and 2013, respectively. Amortization of assets held under capital leases is included with depreciation expense in the accompanying consolidated statements of operations.

Projects in progress consist primarily of software development costs. The Company capitalizes software development costs intended for internal use. The Company recognized depreciation expense for capitalized internally developed software of $5.2 million, $4.5 million and $2.4 million for the years ended December 31, 2014, 2013 and 2012, respectively. Accumulated depreciation for these assets was $29.4 million and $25.3 million at December 31, 2014 and 2013, respectively. The Company periodically assesses the likelihood of unsuccessful completion of projects in progress, as well as monitoring events or changes in circumstances, which might suggest that impairment has occurred and recoverability should be evaluated. An impairment loss is recognized if the carrying amount of the asset is not recoverable and exceeds the future net cash flows expected to be generated by the asset. Due to significant changes in the extent and manner in which assets were expected to be used, the Company recognized losses of $0.9 million, $0.8 million and $2.8 million for the years ended December 31, 2014, 2013 and 2012, respectively, and included these charges in depreciation expense in the accompanying consolidated statements of operations.