Quarterly report pursuant to Section 13 or 15(d)

Property, Equipment and Software

v3.7.0.1
Property, Equipment and Software
6 Months Ended
Jun. 30, 2017
Property, Plant and Equipment [Abstract]  
Property, Equipment and Software
Property, Equipment, and Software
Property, equipment, and software consisted of the following at June 30, 2017 and December 31, 2016:
 
June 30, 2017
 
December 31, 2016
 
(in thousands)
Leasehold improvements
$
54,107

 
$
51,242

Data processing and communications equipment
81,916

 
76,773

Furniture, fixtures, and other equipment
26,652

 
26,513

Software
97,636

 
86,983

Property, equipment, and software, gross
260,311

 
241,511

Less: Accumulated depreciation and amortization
(122,070
)
 
(111,083
)
Property, equipment, and software, net
$
138,241

 
$
130,428


Depreciation and amortization expense for property, equipment, and purchased software was $6.9 million and $6.5 million for the three months ended, and $13.5 million and $11.9 million for the six months ended June 30, 2017 and 2016, respectively.
The carrying amount of capitalized software development costs was $63.9 million and $55.4 million at June 30, 2017 and December 31, 2016, respectively. Total accumulated amortization related to these assets was $23.2 million and $19.8 million at June 30, 2017 and December 31, 2016, respectively. Amortization expense related to capitalized software development costs totaled $1.8 million and $1.4 million for the three months ended, and $3.4 million and $2.6 million for the six months ended June 30, 2017 and 2016, respectively.