Property and Equipment, Net

9 Months Ended

Sep. 30, 2012

Property, Plant and Equipment [Abstract]

All of the Company's property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the related assets. The estimated useful lives of the assets are leasehold improvements, lesser of 5 years or remaining lease term, furniture and fixtures, 5 years, office and computer equipment, 3 to 5 years, and software, 3 years.

Maintenance and repairs are charged to expense. Major renewals and improvements are capitalized. Gains and losses on dispositions are credited or charged to earnings as incurred. Depreciation and amortization expense relating to property and equipment was $2.5 million and $1.2 million, respectively, for the nine and three months ended September 30, 2012, as compared to $1.5 million and $0.5 million, respectively, for the nine and three months ended September 30, 2011.

The following table shows the Company's property and equipment, net as of September 30, 2012 and December 31, 2011 (dollars in thousands):



	September 30, 2012			December 31, 2011
Furniture, fixtures and office equipment	$	987		$	1,216
Hardware and computer equipment	3,885			2,961
Software	7,834			6,887
Leasehold improvements	1,194			352
Total Cost	13,900			11,416
Less: Accumulated depreciation and amortization	(8,278		)	(5,827		)
Property and equipment, net	$	5,622		$	5,589

- 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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