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Property and Equipment
 12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
Property and Equipment

7. PROPERTY AND EQUIPMENT

The cost basis and estimated useful lives of property and equipment for continuing operations as of December 31, 2014 and 2013 are as follows (dollars in thousands):

 

     December 31,      
     2014     2013    

Life

Leasehold improvements

    $ 174,026      $ 182,260      Shorter of Life of Lease or Useful Life

Computer hardware and software

      121,136        134,866      3 years

Furniture, fixtures and equipment

      90,671        94,493      5-10 years

Building and improvements

      8,656        8,625      15-35 years

Library materials

      3,840        4,004      10 years

Vehicles

      778        819      5 years

Construction in progress

      372        753     
  

 

 

    

 

 

    
     399,479        425,820     

Less-Accumulated depreciation

      (326,396 )      (313,725 )   
  

 

 

    

 

 

    

Total property and equipment, net

    $ 73,083      $ 112,095     
  

 

 

    

 

 

    

Depreciation expense for continuing operations for the years ended December 31, 2014, 2013 and 2012, was $35.2 million, $44.0 million and $47.1 million, respectively. Depreciation expense for discontinued operations, included in loss from discontinued operations, was $19.4 million, $27.8 million and $32.3 million for the years ended December 31, 2014, 2013 and 2012, respectively.

Property and equipment was affected by asset impairment charges of approximately $14.7 million for the year ended December 31, 2014 and $7.0 million for the year ended December 31, 2013, as a result of the reduction in carrying values for campuses that are being taught out, decisions made to exit certain leased facilities, and for certain long-lived assets related to ongoing institutions which are expected to generate negative cash flows through the respective lease end dates and as such the carrying values were not recoverable. The fair value for these assets was determined based upon management’s assumptions regarding an estimated percentage of replacement value for similar assets and estimated salvage values. Because the determination of the estimated fair value of these assets requires significant estimation and assumptions, these fair value measurements are categorized as Level 3 per ASC Topic 820.