Property and Equipment, Net

3 Months Ended

Mar. 31, 2012

3. Property and Equipment, Net

Property and equipment, net, was comprised of the following at March 31, 2012 and December 31, 2011:


*In thousands*	March 31, 2012			December 31, 2011
Leasehold improvements	$	22,259		$	22,252
Construction in progress		770			699
Equipment and furniture		17,696			17,032

		40,725			39,983
Less accumulated depreciation and amortization		(34,026	)		(33,372	)

	$	6,699		$	6,611

Depreciation and amortization expense for the three-month periods ended March 31, 2012 and 2011 amounted to $654,000 and $766,000, respectively.

The Company leases certain assets under capital leases having terms up to four years. Assets under capital leases included in property and equipment were as follows at March 31, 2012 and December 31, 2011:


*In thousands*	March 31, 2012			December 31, 2011
Equipment and furniture	$	392		$	392
Less accumulated depreciation and amortization		(278	)		(257	)

	$	114		$	135

- 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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