Quarterly report pursuant to Section 13 or 15(d)

Property, Equipment and Software

v3.10.0.1
Property, Equipment and Software
9 Months Ended
Sep. 30, 2018
Property, Plant and Equipment [Abstract]  
Property, Equipment and Software
Property, Equipment, and Software
Property, equipment, and software consisted of the following at September 30, 2018 and December 31, 2017:
 
September 30, 2018
 
December 31, 2017
 
(in thousands)
Leasehold improvements
$
61,879

 
$
59,179

Data processing and communications equipment
66,528

 
83,922

Furniture, fixtures, and other equipment
33,532

 
28,752

Software
125,616

 
107,924

Property, equipment, and software, gross
287,555

 
279,777

Less: Accumulated depreciation and amortization
(136,342
)
 
(131,349
)
Property, equipment, and software, net
$
151,213

 
$
148,428


Depreciation and amortization expense for property, equipment, and purchased software was $6.9 million for both of the three month periods ended September 30, 2018 and 2017, and $21.3 million and $20.4 million for the nine months ended September 30, 2018 and 2017, respectively.
The carrying amount of capitalized software development costs was $89.0 million and $73.4 million at September 30, 2018 and December 31, 2017, respectively. Total accumulated amortization related to these assets was $36.5 million and $27.8 million at September 30, 2018 and December 31, 2017, respectively. Amortization expense related to capitalized software development costs totaled $3.2 million and $2.2 million for the three months ended, and $8.7 million and $5.7 million for the nine months ended September 30, 2018 and 2017, respectively.