Quarterly report pursuant to Section 13 or 15(d)

Property, Equipment and Software

v3.8.0.1
Property, Equipment and Software
9 Months Ended
Sep. 30, 2017
Property, Plant and Equipment [Abstract]  
Property, Equipment and Software
Property, Equipment, and Software
Property, equipment, and software consisted of the following at September 30, 2017 and December 31, 2016:
 
September 30, 2017
 
December 31, 2016
 
(in thousands)
Leasehold improvements
$
56,529

 
$
51,242

Data processing and communications equipment
82,866

 
76,773

Furniture, fixtures, and other equipment
32,239

 
26,513

Software
104,191

 
86,983

Property, equipment, and software, gross
275,825

 
241,511

Less: Accumulated depreciation and amortization
(128,756
)
 
(111,083
)
Property, equipment, and software, net
$
147,069

 
$
130,428


Depreciation and amortization expense for property, equipment, and purchased software was $6.9 million and $6.2 million for the three months ended, and $20.4 million and $18.2 million for the nine months ended September 30, 2017 and 2016, respectively.
The carrying amount of capitalized software development costs was $68.8 million and $55.4 million at September 30, 2017 and December 31, 2016, respectively. Total accumulated amortization related to these assets was $25.4 million and $19.8 million at September 30, 2017 and December 31, 2016, respectively. Amortization expense related to capitalized software development costs totaled $2.2 million and $1.6 million for the three months ended, and $5.7 million and $4.2 million for the nine months ended September 30, 2017 and 2016, respectively.