Fixed Assets

12 Months Ended

Dec. 31, 2022

Fixed Assets [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Fixed Assets

As of December 31, 2022 and 2021, fixed assets consisted of the following:

	As of December 31,
	2022		2021
	(dollars in thousands)
Telecommunication and computer equipment	$	10,545	$	9,379
Computer software	13,684		13,715
Furniture and fixtures	4,026		3,607
Leasehold improvements	44,193		42,749
Finance lease right-of-use asset (See Note 16)	3,737		6,468
Other	38		75
	76,223		75,993
Less: Accumulated depreciation and amortization	(52,816)		(50,017)
	$	23,407	$	25,976

Depreciation and amortization expense related to fixed assets was $11.5 million, $11.0 million and $9.6 million for the years ended December 31, 2022, 2021, and 2020, respectively, and are included in depreciation and amortization expense in the accompanying consolidated statements of operations.

During the fourth quarter of 2020 the Company purchased an aircraft and related equipment of $4.5 million. This aircraft was subsequently sold during the fourth quarter of 2021 for a gain of $0.3 million, within the accompanying consolidated statement of operations.

Assets acquired under finance leases were $3.7 million and $6.5 million as of December 31, 2022 and 2021, 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 $1.1 million, $1.3 million, and $1.2 million for the years ended December 31, 2022, 2021, and 2020, respectively. As of December 31, 2022 and 2020, accumulated depreciation related to assets acquired under finance leases was $3.0 million and $4.7 million, respectively.