Property and Equipment, Net

3 Months Ended

Mar. 31, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and Equipment, Net

Property and equipment, net as of March 31, 2021 and December 31, 2020 consists of the following:

(in thousands)	2021		2020
Land	$	7,476	$	7,476
Buildings	6,487		6,487
Furniture and equipment	62,186		60,433
Capitalized software	878,925		862,984
Leasehold improvements	50,076		50,477
Construction in progress	203		1,275
	1,005,353		989,132
Less accumulated depreciation	(603,801)		(583,018)
Property and equipment, net	$	401,552	$	406,114

Depreciation expense for property and equipment, net, was approximately $22.0 million and $21.6 million for the three months ended March 31, 2021 and 2020, respectively.

No impairment losses were recorded for the three months ended March 31, 2021 and 2020.