Property and Equipment, net

6 Months Ended

Jun. 30, 2019

Property, Plant and Equipment [Abstract]

Property and equipment, net

Property and Equipment, net

Property and equipment consisted of the following at June 30, 2019 and December 31, 2018 (in thousands):

	June 30, 2019			December 31, 2018
Computer equipment, software, and internally developed software	$	104,471		$	99,204
Furniture and fixtures	4,762			4,758
Leasehold improvements	15,839			8,602
Capitalized facility leases	—			30,632
	125,072			143,196
Less: Accumulated depreciation	(92,790		)	(81,685		)
Total property and equipment, net	$	32,282		$	61,511

Prior to the adoption of the new lease guidance, the Company was considered the owner, for accounting purposes only, of one of its Santa Monica, California leased office spaces as it had taken on certain risks of construction build cost overages above normal tenant improvement allowances. These capitalized facility leases were removed from the balance sheet at adoption. Refer to Note 3 for further details.

Included in the table above are property and equipment of $1.0 million and $1.1 million at June 30, 2019 and December 31, 2018, respectively, which are capitalizable but had not yet been placed in service. These balances were comprised primarily of capitalized software not ready for its intended use.

Total depreciation and amortization expense of property and equipment was $5.2 million and $4.7 million for the three months ended June 30, 2019 and 2018, respectively. Total depreciation and amortization expense of property and equipment was $10.1 million and $8.9 million for the six months ended June 30, 2019 and 2018, respectively.

Amortization of internal use capitalized software development costs was $3.9 million and $3.3 million for the three months ended June 30, 2019 and 2018, respectively. Amortization of internal use capitalized software development costs was $7.3 million and $6.2 million for the six months ended June 30, 2019 and 2018, respectively.