Annual report pursuant to Section 13 and 15(d)

Property and Equipment (Tables)

v2.4.0.6
Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2012
Property and Equipment [Abstract]  
Property and Equipment
 
(4)  Property and Equipment

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

 
  
2012
    
2011
  
Buildings and building improvements
  
$
44,428
    
$
41,088
  
Computer equipment
    
28,704
      
22,218
  
Furniture, fixtures, equipment and other
    
16,897
      
13,789
  
Leasehold improvements
    
6,248
      
6,196
  
Land and land improvements
    
3,310
      
2,834
  
 
    
99,587
      
86,125
  
Less accumulated depreciation and amortization
    
(37,119
)
    
(29,012
)
   Total property and equipment, net
  
$
62,468
    
$
57,113
  
 

 
Depreciation and amortization expense for property and equipment for the years ended December 31, 2012, 2011 and 2010 was approximately $9.2 million, $6.9 million and $6.4 million, respectively.

In November 2009, we signed an agreement to lease a new building to serve as our new headquarters with a rent commencement date of May 1, 2012.  Certain terms in the lease agreement resulted in the capitalization of construction costs due to specific accounting rules.  We recorded an asset and corresponding long-term liability of $27.3 million and $26.4 million, as of December 31, 2012 and 2011, respectively, in connection with this lease, which is included in the 2012 and 2011 amounts for "Buildings and building improvements" in the table above (see Note 11). According to accounting rules, we have forms of continuing involvement that require us to account for this transaction as a financing lease upon commencement of the lease period.  The building and building improvements will remain on our consolidated balance sheet and will be depreciated over a 15-year period.  Payments made under the lease agreement are applied to service the financing obligation and interest expense based on an imputed interest rate amortizing the obligation over the life of the lease agreement.