Property and Equipment

12 Months Ended

Dec. 31, 2019

Property Plant And Equipment [Abstract]

Property and Equipment

5. Property and Equipment

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

(in thousands)	December 31, 2019			December 31, 2018
Building	$	—		$	71,780
Computer equipment		23,155			21,448
Leasehold improvements		55,224			56,396
Furniture, fixtures, and other assets		11,411			10,566
Gross property and equipment		89,790			160,190
Less: Accumulated depreciation		(54,718	)		(42,472	)
Property and equipment, net	$	35,072		$	117,718

Depreciation expense was $17.5 million, $19.5 million and $15.9 million, during the years ended December 31, 2019, 2018 and 2017, 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).