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PREMISES AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2012

PREMISES AND EQUIPMENT, NET

PREMISES AND EQUIPMENT, NET

NOTE 5 — PREMISES AND EQUIPMENT, NET

Premises and equipment, net which includes amounts recorded under capital leases, consists of the following:

		June 30,			December 31,
(in thousands)		2012			2011

Computer hardware and software		$	53,948		$	39,452
Office equipment and other		16,993			15,068
Furniture and fixtures		5,026			4,299
Leasehold improvements		9,625			7,014
		85,592			65,833
Less: Accumulated depreciation and amortization		(44,430		)	(40,233		)

Total		$	41,162		$	25,600

Depreciation and amortization expense, inclusive of capital lease obligations, amounted to $5.2 million and $4.1 million for the six months ended June 30, 2012 and 2011, respectively ($2.9 million and $2.2 million for the second quarters of 2012 and 2011, respectively), and is included in cost of revenue for operating assets and in selling, general and administrative expenses for non-operating assets in the accompanying condensed consolidated statements of operations.

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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