Property and Equipment

12 Months Ended

Dec. 31, 2011

5. Property and Equipment

A summary of property and equipment at December 31, 2011 and 2010 is as follows:

	2011

	(in thousands)
Leasehold improvements	$	19,678	19,827	1 - 15 years
Furniture and fixtures		31,840	30,137	3 - 10 years
Equipment		18,864	17,366	3 - 26 years
Computer software		72,799	67,830	3 - 10 years
Data processing equipment		21,178	22,190	5 - 10 years
Building		3,765	-	10 - 30 years
Land		1,940	-

Property and equipment, at cost		170,064	157,350
Accumulated depreciation		(96,036)	(86,102)

Property and equipment, net	$	74,028	71,248

Depreciation expense was $15.2 million, $14.0 million and $13.7 million during the years ended December 31, 2011, 2010 and 2009, respectively.

At December 31, 2011 and 2010, we had property and equipment under capital leases with a cost of $1.8 million and accumulated depreciation of $1.0 million.

- 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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