Property and Equipment

12 Months Ended

Mar. 31, 2015

Property, Plant and Equipment [Abstract]

Property and equipment consisted of the following (dollars in thousands):



	March 31,
	2015			2014
Furniture, fixtures and computer equipment	$	12,984		$	10,873
Leasehold improvements	3,628			3,044
Capitalized software⁽¹⁾	35,544			27,759
	52,156			41,676
Less accumulated depreciation and amortization	(29,121		)	(23,785		)
	$	23,035		$	17,891

(1) Includes $4.1 million and $4.4 million of capitalized costs associated with software projects which are still in the application development stage as of March 31, 2015 and 2014, respectively, and, as such, are not being amortized.

Depreciation expense was $6.4 million, $5.0 million and $4.0 million in Fiscal 2015, 2014 and 2013, respectively. Amortization expense related to capitalized software, included in the depreciation amounts above, was $4.0 million, $3.2 million and $2.6 million in Fiscal 2015, 2014 and 2013, respectively. Accumulated amortization related to capitalized software was $18.7 million and $14.7 million at March 31, 2015 and 2014, respectively. Amortization expense related to capitalized software no longer in the application development stage over the next five fiscal years and thereafter as of March 31, 2015 is expected to be as follows (dollars in thousands):



2016	$	4,043
2017	3,411
2018	2,789
2019	1,966
2020	605
Thereafter	—
	$	12,814

- 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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