Annual report pursuant to Section 13 and 15(d)

Property, Equipment and Software

v2.4.1.9
Property, Equipment and Software
12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
Property, Equipment and Software
Property, Equipment and Software
Property, equipment and software consist of the following:
 
 
December 31,
 
 
2014
 
2013
 
 
(in thousands)
Leasehold improvements
 
$
22,943

 
$
18,756

Data processing and communications equipment
 
59,390

 
47,719

Furniture, fixtures and other equipment
 
16,254

 
11,266

Software
 
51,915

 
36,750

 
 
150,502

 
114,491

Less: Accumulated depreciation and amortization
 
(77,886
)
 
(59,716
)
Property, equipment and software, net
 
$
72,616

 
$
54,775


Depreciation and amortization expense for property, equipment and purchased software was $18.9 million, $14.1 million and $13.0 million for the years ended December 31, 2014, 2013 and 2012, respectively. This includes depreciation for assets acquired through capital leases.
The carrying amount of capitalized development costs was $32.5 million and $21.6 million and had accumulated amortization of $10.7 million and $9.0 million at December 31, 2014 and 2013, respectively. The weighted average amortization period for capitalized software development costs was 4.3 years at December 31, 2014. During the years ended December 31, 2014 and 2013 we capitalized $10.9 million and $7.6 million of software development costs. Amortization expense related to capitalized software development costs totaled $1.7 million, $1.0 million and $1.2 million during the years ended December 31, 2014, 2013 and 2012, respectively.