Property, Plant and Equipment

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Note 5 — Property, Plant and Equipment

The components of property, plant and equipment are:

	December 31,
	(in thousands)
	2013			2012
Land	$	253		$	253
Building and improvements		6,540			6,302
Rental property		5,311			5,289
Furniture and equipment		25,431			24,557
		37,535			36,401
Less accumulated depreciation		(32,041	)		(30,544	)
	$	5,494		$	5,857

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 $1,502,000 and $1,465,000 for 2013 and 2012, respectively.

The Company leases a portion of its headquarters facility to various tenants. Net rent received from these leases totaled $448,000 and $174,000 for 2013 and 2012, respectively. Future minimum rent payments due to the Company under these lease arrangements are approximately $306,000 in 2014.

The Company leases office space under various operating leases. Rental expense on these operating leases was approximately $2.6 million and $2.4 million for 2013 and 2012, respectively. Future minimum lease payments under all non-cancelable operating leases are (in thousands):

2014	$	1,725
2015		1,090
2016		805
2017		522
2018		353
Thereafter		854
	$	5,349

- 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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