Property And Equipment

12 Months Ended

Dec. 31, 2012

9. Property and Equipment

Major classifications of property and equipment as of December 31, 2012 and 2011, were as follows (dollars in thousands):

	As of December 31,
	2012						2011
			Accumulated						Accumulated
	Cost		Depreciation		Net		Cost		Depreciation		Net
Land	$	5,335	$	-	$	5,335	$	5,335	$	-	$	5,335
Buildings and leasehold improvements		230,665		(124,690)		105,975		210,337		(111,946)		98,391
Furniture, fixtures and equipment		155,118		(100,139)		54,979		135,487		(88,422)		47,065
Computer software		168,728		(73,246)		95,482		151,142		(55,504)		95,638
Total	$	559,846	$	(298,075)	$	261,771	$	502,301	$	(255,872)	$	246,429

The Company recognized depreciation expense of $65.9 million, $47.9 million and $39.1 million during 2012, 2011 and 2010, respectively.

- 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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