Property and Equipment

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

The components of property and equipment are:

	December 31,
	2018			2017
	(in thousands)
Land and land improvements	$	2,197		$	3,107
Construction in progress and software under development	49,920			13,243
Computer equipment and software	180,364			159,786
Buildings and leasehold improvements	30,019			37,764
Furniture, fixtures, vehicles and equipment	28,937			18,002
Assets under capital lease	4,827			4,827
	296,264			236,729
Less: Accumulated depreciation and amortization	(168,729		)	(153,355		)
Property and equipment, at cost, net	$	127,535		$	83,374

Construction in progress includes the rehabilitation and development of a former office building into a hotel through a consolidated joint venture. As construction in progress and software development are completed and placed in service, they are transferred to appropriate property and equipment categories and depreciation begins. Interest capitalized as a cost of property and equipment totaled $0.2 million and $0.4 million for the years ended December 31, 2018 and 2017, respectively.

Unamortized capitalized software development costs at December 31, 2018 and 2017 totaled $38.9 million and $40.7 million, respectively. Amortization of software development costs for the years ended December 31, 2018, 2017 and 2016 totaled $11.2 million, $11.7 million, and $11.8 million, respectively.

Depreciation has been computed for financial reporting purposes using the straight-line method. A summary of the ranges of estimated useful lives upon which depreciation rates are based follows:

Computer equipment and software	2-7 years
Buildings and leasehold improvements	10-40 years
Furniture, fixtures, vehicles and equipment	3-10 years
Assets under capital leases	3-8 years

Depreciation expense, excluding amounts attributable to marketing and reservation activities, for the years ended December 31, 2018, 2017 and 2016 was $5.5 million, $5.2 million and $5.6 million, respectively. Accumulated amortization of capital leases, included in accumulated depreciation and amortization above, at December 31, 2018 and 2017 totaled $4.8 million and $4.5 million, respectively.