Quarterly report pursuant to Section 13 or 15(d)

Property, Equipment and Software

v3.8.0.1
Property, Equipment and Software
3 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
Property, Equipment and Software
Property, Equipment, and Software
Property, equipment, and software consisted of the following at March 31, 2018 and December 31, 2017:
 
March 31, 2018
 
December 31, 2017
 
(in thousands)
Leasehold improvements
$
59,864

 
$
59,179

Data processing and communications equipment
75,112

 
83,922

Furniture, fixtures, and other equipment
31,292

 
28,752

Software
113,497

 
107,924

Property, equipment, and software, gross
279,765

 
279,777

Less: Accumulated depreciation and amortization
(134,243
)
 
(131,349
)
Property, equipment, and software, net
$
145,522

 
$
148,428


Depreciation and amortization expense for property, equipment, and purchased software was $6.9 million and $6.6 million for the three months ended March 31, 2018 and 2017, respectively.
The carrying amount of capitalized software development costs was $77.7 million and $73.4 million at March 31, 2018 and December 31, 2017, respectively. Total accumulated amortization related to these assets was $30.4 million and $27.8 million at March 31, 2018 and December 31, 2017, respectively. Amortization expense related to capitalized software development costs totaled $2.6 million and $1.7 million for the three months ended March 31, 2018 and 2017, respectively.