Property and Equipment, net

9 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

Note 3 – Property and Equipment, net

Property and equipment, net consists of the following:


(Dollar amounts in thousands)	Useful life in years	September 30, 2014			December 31, 2013
Buildings	30	$	1,600		$	1,726
Data processing equipment	3 - 5		73,199			68,273
Furniture and equipment	3 - 20		8,200			6,385
Leasehold improvements	5 - 10		2,896			2,880

			85,895			79,264
Less - accumulated depreciation and amortization			(57,832	)		(47,555	)

Depreciable assets, net			28,063			31,709
Land			1,419			1,531

Property and equipment, net		$	29,482		$	33,240

Depreciation and amortization expense related to property and equipment for the three and nine months ended September 30, 2014 amounted to $3.8 million and $11.5 million, respectively, compared to $4.1 million and $12.2 million, respectively, for the same periods in 2013.

- 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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