Property and Equipment

6 Months Ended

Jun. 30, 2019

Property Plant And Equipment [Abstract]

Property and Equipment

5. Property and Equipment

As of June 30, 2019 and December 31, 2018, property and equipment consisted of the following:

(in thousands)	June 30, 2019			December 31, 2018
Building	$	—		$	71,780
Computer equipment		22,505			21,448
Leasehold improvements		55,925			56,396
Furniture, fixtures, and other assets		11,340			10,566
Gross property and equipment		89,770			160,190
Less: Accumulated depreciation		(47,244	)		(42,472	)
Property and equipment, net	$	42,526		$	117,718

Depreciation expense was $4.4 million and $8.7 million, during the three and six months ended June 30, 2019, respectively, and $4.7 million and $9.4 million, during the three and six months ended June 30, 2018, respectively.

Upon adoption of ASC 842, the Company derecognized amounts previously capitalized related to its San Mateo lease included in the Building line item, as well as the related accumulated depreciation, as of December 31, 2018 (see Notes 2 and 8 for additional information).