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Property and Equipment
 6 Months Ended
Jun. 30, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment are recorded at cost and consist of the following:
 
 
As of
June 30, 2019
 
As of
December 31, 2018
 
 
(in thousands)
Computer equipment and software
 
$
20,612

 
$
18,724

Furniture and fixtures(1)
 
10,178

 
5,580

Leasehold improvements (1)
 
50,271

 
19,437

Total
 
81,061

 
43,741

Less accumulated depreciation
 
(29,201
)
 
(26,218
)
Property and equipment, net
 
$
51,860

 
$
17,523


(1) As of June 30, 2019, $30.5 million and $3.8 million of leasehold improvements and furniture and fixtures, respectively, related to our new Boston, Massachusetts corporate headquarters which was completed in July 2019. As of December 31, 2018, leasehold improvements included $3.8 million of construction-in progress related to our new corporate headquarters facility.
Depreciation expense was $2.1 million and $1.6 million for the three months ended June 30, 2019 and 2018, respectively, and $3.9 million and $3.0 million for the six months ended June 30, 2019 and 2018, respectively.