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ASSURANT, INC. – 2015 Form 10-KF-36
10 Property and Equipment
9� Deferred Acquisition Costs
Information about deferred acquisition costs is as follows:
December 31,
2015 2014 2013
Beginning balance $ 2,957,740 $3,128,931 $2,861,163
Costs deferred and other(1) 1,587,453 1,306,390 1,729,613
Amortization (1,394,259)(1,477,581)(1,461,845)
ENDING BALANCE $ 3,150,934 $ 2,957,740 $ 3,128,931
(1) Includes foreign currency translation, the adjustment previously disclosed in 2014 and the reclassification of assets held for sale as described
in Note 4.
10� Property and Equipment
Property and equipment consists of the following:
As of December 31,
2015 2014
Land $ 14,884 $14,359
Buildings and improvements 262,769 258,680
Furniture, xtures and equipment 478,717 519,146
TOTAL 756,370 792,185
Less accumulated depreciation (457,956)(514,540)
TOTAL $ 298,414 $ 277,645
Depreciation expense for 2015, 2014 and 2013 amounted to $47,439, $47,670 and $50,652, respectively. Depreciation expense
is included in underwriting, general and administrative expenses in the consolidated statements of operations.