COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2013

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

21.  COMMITMENTS AND CONTINGENCIES

Litigation

From time to time, we are involved in legal proceedings arising in the ordinary course of business.  We record a liability for litigation if an unfavorable outcome is probable and the amount of loss can be reasonably estimated, including expected insurance coverage.  For proceedings where a range of loss is determined, we record a best estimate of loss within the range.

When legal proceedings are material, we disclose the nature of the litigation, and to the extent possible, the estimate of loss or range of loss.  In the opinion of management, after consultation with legal counsel, the outcome of current legal proceedings, both individually and in the aggregate, will not have a material impact on our financial condition, results of operations or cash flows.

Leases

We lease certain premises and equipment under various operating lease agreements.  Future minimum lease payments at December 31, 2013 under non-cancelable operating leases with an original term exceeding one year are as follows:

(in thousands)	Operating lease obligations
2014	$	9,142
2015	8,517
2016	7,077
2017	5,148
2018	4,386
Thereafter	138
	$	34,408

Total operating lease expense, net of sublease income, was $12.8 million, $10.9 million and $10.8 million for the years ended December 31, 2013, 2012 and 2011, respectively.  The operating leases generally relate to office locations and reflect customary lease terms which range from 3 to 6 years in duration.

Escrow and Trust Balances

We hold customers’ assets in escrow and trust accounts at various financial institutions pending completion of certain real estate activities.  We also hold cash in trust accounts at various financial institutions where contractual obligations mandate maintaining dedicated bank accounts for Financial Services collections.  These amounts are held in escrow and trust accounts for limited periods of time and are not included in the consolidated balance sheets.  Amounts held in escrow and trust accounts were $71.8 million and $47.2 million at December 31, 2013 and 2012, respectively.