PROPERTY, NET

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

At June 30, 2024 and December 31, 2023, property consisted of the following:


	Estimated Depreciable Life in Years	June 30, 2024		December 31, 2023
Buildings (a)	33	$	165,496	$	170,830
Leasehold improvements (a)	3-20	233,598		233,732
Furniture and equipment	3-10	163,289		162,075
Computer software	3-5	68,474		68,638
Construction in progress		13,934		11,788
Total		644,791		647,063
Less - Accumulated depreciation and amortization (a)		424,128		414,547
Property, net		$	220,663	$	232,516

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(a)The Company classified assets relating to an owned office building as held for sale as of June 30, 2024 and December 31, 2023, the carrying amount of which was $70,002 and $72,921 (net of accumulated depreciation), respectively. The property held for sale is reported within the Corporate segment. Effective January 1, 2024, depreciation expense is no longer being recorded on this asset. In addition, a $6,550 receivable (included in “other assets”) related to operating lease income on the owned office building is classified as held for sale as of June 30, 2024 and December 31, 2023. On July 22, 2024, the Company completed the sale of the owned office building, including rights to the operating lease income, for gross proceeds of approximately $193,000 which resulted in a net pre-tax gain of approximately $95,000, which will be recognized in the three month and nine month periods ending September 30, 2024.

Effective June 30, 2024, in the table above, computer software is being reported separately. Computer software was previously included as a component of furniture and equipment. Prior year information has been recast to reflect the updated presentation.