PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2012

PREMISES AND EQUIPMENT, NET

PREMISES AND EQUIPMENT, NET

8.  PREMISES AND EQUIPMENT, NET

Premises and equipment, net, which include amounts recorded under capital leases, consists of the following as of December 31:

(in thousands)	2012			2011
Computer hardware and software	$	68,329		$	39,452
Office equipment and other	15,592			15,068
Furniture and fixtures	5,344			4,299
Leasehold improvements	12,982			7,014
	102,247			65,833
Less: Accumulated depreciation and amortization	(51,848		)	(40,233		)
Total	$	50,399		$	25,600

Depreciation and amortization expense, inclusive of capital lease obligations, amounted to $12.8 million, $8.4 million and $7.2 million for 2012, 2011 and 2010, 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 consolidated statements of operations.