Property and Equipment, Net

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

PROPERTY AND EQUIPMENT, NET  

Property and equipment, net consists of the following at December 31:

	Useful Lives (years)	2016			2015
Land	—	$	9,958		$	8,146
Building and leasehold improvements	5-39	94,924			77,020
Computer equipment and purchased software	3-5	55,627			42,245
Furniture and fixtures	5	19,897			16,661
Transportation equipment	5	447			252
		180,853			144,324
Accumulated depreciation and amortization		(56,585		)	(43,212		)
Property and equipment, net		$	124,268		$	101,112

Depreciation expense was $13.4 million during 2016, $9.1 million during 2015, and $7.9 million during 2014.

In 2016, we purchased an office building in Falmouth, Maine, that was previously leased from an entity owned by an executive’s father and brother, for approximately $9.7 million, and paid $8.0 million for construction to expand a building in Yarmouth, Maine.

We own office buildings in Bangor, Falmouth and Yarmouth, Maine; Lubbock and Plano, Texas; Troy, Michigan; and Moraine, Ohio.  We lease some space in these buildings to third-party tenants.  These leases expire between 2017 and 2025 and are expected to provide rental income of approximately $1.6 million during 2017, $1.9 million during 2018, $1.9 million during 2019, $1.7 million during 2020, $1.4 million during 2021, and $5.2 million thereafter. Rental income from third-party tenants was $1.7 million in 2016, $913,000 in 2015, and $945,000 in 2014.