Property and Equipment

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Property and Equipment

5. Property and Equipment

Property and equipment consist of the following:

	December 31,
	2015			2014
	(in thousands)
Land and office building	$	7,069		$	7,758
Furniture and equipment		6,227			6,593
Software		6,277			9,875
Automobiles		74			73
		19,647			24,299
Accumulated depreciation		(13,466	)		(17,059	)
Property and equipment, net	$	6,181		$	7,240

Furniture and equipment included property held under capital leases of $0.1 million at December 31, 2015. Accumulated depreciation includes $97,000 that is related to these properties at December 31, 2015. Furniture and equipment included property held under capital leases of $0.1 million at December 31, 2014. Accumulated depreciation includes $49,000 that is related to these properties at December 31, 2014. The capital lease obligations related to these properties are included in accounts payable and other liabilities. The Company had no capital lease obligations at December 31, 2013.

Future minimum lease payments related to the capital lease obligations are detailed below (in thousands):

2016	$	39
2017		28
Present value of net minimum lease payments	$	67

The company made a partial disposition election under tax regulations to write-off capitalized amounts for book and tax purposes of certain fixed assets and deductible repairs in the amount of $0.6 million in 2015 and this amount is included in “Loss on disposal of assets.”