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Fixed Assets and Lease Commitments

12 Months Ended

Dec. 31, 2013

Fixed Assets and Lease Commitments

Fixed Assets and Lease Commitments

Fixed Assets and Lease Commitments

Fixed assets consisted of the following:

	December 31,
	2012				2013
Building and leasehold improvements	$	74.7			$	78.5
Equipment	38.9				36.5
Furniture and fixtures	16.3				15.4
Land and improvements	18.1				18.9
Software	21.4				30.6
Fixed assets, at cost	169.4				179.9
Accumulated depreciation and amortization	(87.9		)		(87.6		)
Fixed assets, net	$	81.5			$	92.3

The Company and its Affiliates lease office space and equipment for their operations. At December 31, 2013, the Company's aggregate future minimum payments for operating leases having initial or non-cancelable lease terms greater than one year are payable as follows:

	Required Minimum Payments
2014	$	30.1
2015	29.2
2016	23.5
2017	21.4
2018	19.8
Thereafter	69.5

Consolidated rent expense for 2011, 2012 and 2013 was $29.9 million, $30.5 million and $30.3 million, respectively.

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- Definition

Disclosure of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Also includes the following disclosure for operating leases having initial or remaining non cancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years.

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