Furniture, Equipment, and Leasehold Improvements, Net

12 Months Ended

Dec. 31, 2012

Furniture, Equipment, and Leasehold Improvements, Net

14. FURNITURE, EQUIPMENT, AND LEASEHOLD IMPROVEMENTS, NET

Furniture, equipment, and leasehold improvements, net, which are included as a component of other assets on the consolidated balance sheets, are as follows:

FURNITURE, EQUIPMENT, AND LEASEHOLD IMPROVEMENTS, NET

(Dollars in Thousands)


	Estimated Useful Lives		December 31, 2012			December 31, 2011
Furniture and equipment		3 to 5 Years	$	2,549		$	5,563
Leasehold improvements		5 to 10 Years		4,465			9,798

				7,014			15,361
Accumulated amortization and depreciation				(4,741	)		(11,988	)

Furniture, equipment, and leasehold improvements, net			$	2,273		$	3,373

For the year ended December 31, 2012, the Company wrote off fully depreciated furniture and equipment and leasehold improvements aggregating $8,581.

The Company recognized depreciation and amortization expense of $1,305, $2,238, and $2,356 for the years ended December 31, 2012, 2011, and 2010, respectively, as a component of depreciation and amortization on the consolidated statements of operations. Of the $1,305, $2,238, and $2,356 recognized for the years ended December 31, 2012, 2011, and 2010, respectively, $1,305, $2,238, and $1,822, respectively, represented depreciation of furniture, equipment, and leasehold improvements and the remainder represented amortization of certain intangible assets.

- 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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