• Filing Date: 2015-03-10
  • Form Type: 10-K
  • Description: Annual report
v2.4.1.9
Property and Equipment, net
12 Months Ended
Dec. 31, 2014
Property, Plant and Equipment [Abstract]  
Property and Equipment, net

Note 7 — Property and Equipment, net

Property and equipment, net consists of the following:

 

     December 31,  
     2014      2013  

Land

   $ 1,642       $ 1,642   

Building

     7,622         7,596   

Computer hardware and software

     1,617         1,486   

Office furniture and equipment

     1,647         1,407   

Tenant and leasehold improvements

     3,093         3,093   

Other

     691         629   
  

 

 

    

 

 

 

Total, at cost

  16,312      15,853   

Less: accumulated depreciation and amortization

  (4,020   (2,721
  

 

 

    

 

 

 

Property and equipment, net

$   12,292    $   13,132   
  

 

 

    

 

 

 

In February 2013, the Company purchased real estate in Ocala, Florida for a total purchase price of $2,002. At acquisition, the real estate consisted of 1.6 acres of land and a vacant office building with rentable area of approximately 16,000 square feet. The facility is currently used by the Company’s insurance operations and, also, as an alternative location in the event a catastrophic event impacts the Company’s home office and other support operations.

Depreciation and amortization expense under property and equipment was $1,304, $1,151 and $848, respectively, for the years ended December 31, 2014, 2013 and 2012.