PREMISES AND EQUIPMENT, NET

9 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

Premises and equipment, net consist of the following:



(in thousands)	September 30, 2014			December 31, 2013

Computer hardware and software	$	136,456		$	103,400
Office equipment and other	34,699			28,057
Furniture and fixtures	10,162			8,391
Leasehold improvements	26,215			17,574
	207,532			157,422
Less: accumulated depreciation and amortization	(91,759		)	(70,170		)

Total	$	115,773		$	87,252

Depreciation and amortization expense, inclusive of capital leases, amounted to $21.1 million and $13.8 million for the nine months ended September 30, 2014 and 2013, respectively ($7.7 million and $4.5 million for the third quarter of 2014 and 2013, 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.

- 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.

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