PROPERTY AND EQUIPMENT:

12 Months Ended

Mar. 31, 2014

8. PROPERTY AND EQUIPMENT:

Property and equipment, some of which has been pledged as collateral for long-term debt, is summarized as follows (dollars in thousands):

	March 31, 2014		March 31, 2013
Land	$	6,737	$	6,737
Buildings and improvements	273,451		263,172
Data processing equipment	520,927		492,626
Office furniture and other equipment	51,121		59,904
	852,236		822,439
Less accumulated depreciation and amortization	635,330		591,687
	$	216,906	$	230,752

Depreciation expense on property and equipment (including amortization of property and equipment under capitalized leases) was $58.3 million, $61.8 million and $62.4 million for the years ended March 31, 2014, 2013 and 2012, respectively.

- 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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