Property And Equipment, Net

12 Months Ended

Dec. 31, 2012

Property And Equipment, Net [Abstract]

(4) PROPERTY AND EQUIPMENT, NET

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


	Useful Lives (years)	2012		2011
Land	-	$	7,800	$	7,549
Building and leasehold improvements	5-39		33,299		29,299
Computer equipment and purchased software	3-5		24,036		21,303
Furniture and fixtures	5		8,108		7,656
Transportation equipment	5		274		248
			73,517		66,055
Accumulated depreciation and amortization			(28,136)		(25,140)
Property and equipment, net		$	45,381	$	40,915

Depreciation expense was $5.6 million during 2012, $5.3 million during 2011, and $5.1 million during 2010. In May 2012 we purchased land and a building in Moraine, Ohio to support our appraisal and tax operations for a purchase price of $2.6 million, which was comprised of $1.7 million in cash and land and a building valued at $900,000.

We own office buildings in Yarmouth, Maine, Lubbock, Texas, and Moraine, Ohio. We lease some space in these buildings to third-party tenants. These leases expire between 2013 and 2017 and are expected to provide rental income of approximately $512,000 during 2013, $335,000 during 2014, $178,000 during 2015, $100,000 during 2016, and $67,000 during 2017. Rental income associated with third party tenants was $586,000 in 2012, $1.2 million in 2011 and $1.4 million in 2010, and was included as a reduction of selling, general and administrative expenses.

- 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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