Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

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Property and Equipment
 9 Months Ended
Sep. 30, 2014
Property, Plant and Equipment [Abstract]  
Property and Equipment
2. Property and Equipment

Property and equipment, net consist of the following (in thousands):

 

     September 30,
2014		     December 31,
2013		  

Computer software and hardware equipment

    $ 8,308      $ 8,442   

Furniture, fixtures, and equipment

      14,484        19,530   

Less: accumulated depreciation and amortization

      (14,963 )      (19,412 ) 
  

 

 

    

 

 

  
   $ 7,829      $ 8,560   
  

 

 

    

 

 

  

During the three months ended September 30, 2014, the Company wrote-off approximately $7.7 million of fully depreciated furniture, fixtures, and equipment no longer in use.

The cost and accumulated depreciation of assets subject to capital leases is recorded in furniture, fixtures and equipment and was not material as of December 31, 2013. The Company does not have any remaining capital lease obligations as of September 30, 2014.

Payments for certain improvements to the Company’s leased office space are recorded as prepaid rent. Amortization of prepaid rent is recorded using the straight-line method over the shorter of the estimated economic life or lease term as a charge to rent expense.