Fixed Assets

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment Disclosure [Text Block]

Fixed Assets

As of December 31, 2020 and 2019, fixed assets consisted of the following:


	As of December 31,
	2020		2019
	(dollars in thousands)
Telecommunication and computer equipment	$	7,921	$	7,556
Computer software	11,813		8,952
Furniture and fixtures	3,387		3,526
Leasehold improvements	40,468		40,301
Finance lease right-of-use asset (See Note 22)	6,172		6,172
Airplane and related equipment	3,932		—

	73,693		66,507
Less: Accumulated depreciation and amortization	(40,670)		(32,846)
	$	33,023	$	33,661

Depreciation and amortization expense related to fixed assets was $9.6 million, $7.3 million and $7.4 million for the years ended December 31, 2020, 2019, and 2018, respectively, and are included in depreciation and amortization expense in the accompanying consolidated statements of operations.

Assets acquired under finance leases were $6.2 million as of December 31, 2020 and 2019, respectively. If the assets acquired under finance leases transfer title at the end of the lease term or contain a bargain purchase option, the assets are amortized over their estimated useful lives; otherwise, the assets are amortized over the respective lease term. The depreciation of assets capitalized under finance leases is included in depreciation and amortization expenses and was $1.2 million, $1.3 million, and $1.6 million for the years ended December 31, 2020, 2019, and 2018, respectively. As of December 31, 2020 and 2019, accumulated depreciation related to assets acquired under finance leases was $3.4 million and $2.2 million, respectively.