PREMISES AND EQUIPMENT, NET

9 Months Ended

Sep. 30, 2015

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT, NET

PREMISES AND EQUIPMENT, NET

Premises and equipment, net consist of the following:

(in thousands)	September 30, 2015			December 31, 2014
Computer hardware and software	$	175,144		$	140,799
Office equipment and other	20,037			36,032
Furniture and fixtures	13,921			12,231
Leasehold improvements	35,978			34,069
	245,080			223,131
Less: accumulated depreciation and amortization	(122,664		)	(95,372		)
Total	$	122,416		$	127,759

Depreciation and amortization expense amounted to $27.6 million and $21.1 million for the nine months ended September 30, 2015 and 2014, respectively ($9.2 million and $7.7 million for the third quarter of 2015 and 2014, 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.