Quarterly report pursuant to Section 13 or 15(d)

Property, Equipment and Software

v3.20.2
Property, Equipment and Software
 6 Months Ended
Jun. 30, 2020
Property, Plant and Equipment [Abstract]  
Property, Equipment and Software Property, Equipment, and Software
Property, equipment, and software consisted of the following at June 30, 2020 and December 31, 2019:
  June 30, 2020 December 31, 2019
  (in thousands)
Leasehold improvements $ 69,859    $ 70,558   
Data processing and communications equipment 84,619    77,358   
Furniture, fixtures, and other equipment 38,669    35,856   
Software 175,764    157,832   
Property, equipment, and software, gross 368,911    341,604   
Less: Accumulated depreciation and amortization (199,689)   (178,322)  
Property, equipment, and software, net $ 169,222    $ 163,282   

Depreciation and amortization expense for property, equipment, and purchased software was $7.6 million and $7.7 million for the three months ended, and $15.0 million and $15.2 million for the six months ended June 30, 2020 and 2019, respectively.
The unamortized amount of capitalized software development costs was $72.9 million and $66.5 million at June 30, 2020 and December 31, 2019, respectively. Amortization expense related to capitalized software development costs totaled $4.2 million and $3.7 million for the three months ended, and $8.2 million and $7.0 million for the six months ended June 30, 2020 and 2019, respectively.