PREMISES AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT, NET

PREMISES AND EQUIPMENT, NET

Premises and equipment, net consists of the following:

(in thousands)	June 30, 2017				December 31, 2016
Computer hardware and software	$	172,535			$	164,877
Office equipment and other	13,279				20,188
Furniture and fixtures	13,895				13,997
Leasehold improvements	33,019				33,808
	232,728				232,870
Less: accumulated depreciation and amortization	(145,668		)	—	(129,397		)
Total	$	87,060			$	103,473

Depreciation and amortization expense amounted to $18.9 million and $18.3 million for the six months ended June 30, 2017 and 2016, respectively ($8.9 million and $9.1 million for the second quarter of 2017 and 2016, respectively), and is included in cost of revenue for operating assets and in selling, general and administrative expenses for non-operating assets in the accompanying condensed consolidated statements of operations and comprehensive income.