Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v2.4.0.8
Property and Equipment
 12 Months Ended
Dec. 31, 2013
Property, Plant and Equipment [Abstract]  
Property and Equipment
PROPERTY AND EQUIPMENT
Property and equipment consists of the following:
 
December 31,
 
2013
 
2012
Furniture and office equipment
$
5,001,936

 
$
3,899,585

Computer equipment and software costs
15,969,900

 
15,289,647

Leasehold improvements
2,559,688

 
2,460,314

Automobiles
1,054,708

 
952,438

Land
520,379

 
520,379

 Property and equipment, gross
25,106,611

 
23,122,363

Less - accumulated depreciation
(16,407,563
)
 
(13,735,145
)
Property and equipment, net
$
8,699,048

 
$
9,387,218


Depreciation expense on property and equipment for the years ended December 31, 2013, 2012 and 2011 was $3,077,902, $2,828,540 and $2,554,867, respectively, and is included in selling, general and administrative expenses in the accompanying consolidated statements of income.