PREMISES AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2013

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)	2013			2012

Computer hardware and software	$	103,400		$	68,329
Office equipment and other	28,057			15,592
Furniture and fixtures	8,391			5,344
Leasehold improvements	17,574			12,982
	157,422			102,247
Less: Accumulated depreciation and amortization	(70,170		)	(51,848		)

Total	$	87,252		$	50,399

Depreciation and amortization expense, inclusive of capital lease obligations, amounted to $19.1 million, $12.8 million and $8.4 million for the years ended December 31, 2013, 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 consolidated statements of operations.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details