Property, Plant and Equipment

12 Months Ended

Dec. 31, 2012

Property, Plant and Equipment [Abstract]

Note 5 — Property, Plant and Equipment

The components of property, plant and equipment are:

	December 31,
	(in thousands)
	2012			2011
Land	$	253		$	253
Building and improvements		6,302			6,235
Rental property		5,289			5,289
Furniture and equipment		24,557			23,009
		36,401			34,786
Less accumulated depreciation		(30,544	)		(29,527	)
	$	5,857		$	5,259

The estimated useful lives of buildings and improvements and rental property are twenty to twenty-five years. The estimated useful lives of furniture and equipment range from three to eight years. Depreciation expense was $1,465,000 and $1,343,000 for 2012 and 2011, respectively.

The Company leases a portion of its headquarters facility to various tenants. Rent received from these leases totaled $479,000 and $440,000 for 2012 and 2011, respectively. Future minimum rent payments due to the Company under these lease arrangements are as follows (in thousands):

2013	$	404
2014		176
	$	580

The Company leases office space under various operating leases. Rental expense on these operating leases was approximately $2,406,000 and $2,535,000 for 2012 and 2011, respectively. Future minimum lease payments under all non-cancelable operating leases are (in thousands):

2013	$	1,967
2014		1,386
2015		625
2016		364
2017		367
Thereafter		-
Total	$	4,709

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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