Property and Equipment

9 Months Ended

Sep. 30, 2014

4.Property and Equipment

Property and equipment consisted of the following (in thousands):

	December 31, 2013			September 30, 2014
Internally-developed software	$	5,516		$	7,149
Computer hardware	2,082			2,374
Furniture and office equipment	774			1,067
Leasehold improvements	1,494			1,706
Total	9,866			12,296
Accumulated depreciation	(4,635		)	(6,455		)
Property and equipment, net	$	5,231		$	5,841

Depreciation expense was $0.6 million for each of the three-month periods ended September 30, 2013 and 2014. Depreciation expense for the nine months ended September 30, 2013 and 2014 was $1.5 million and $1.8 million, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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