Fixed Assets

The following table presents the components of fixed assets:



	December 31,
	2017			2016
	(Amounts in thousands)
Land	$	18,152		$	26,770
Buildings and improvements	136,827			134,952
Furniture and equipment	118,647			114,156
Capitalized software	202,488			190,092
Leasehold improvements	9,632			9,369
	485,746			475,339
Less: accumulated depreciation and amortization	(340,523		)	(319,429		)
Fixed assets, net	$	145,223		$	155,910

Depreciation expense, including amortization of leasehold improvements, was $21.1 million, $20.2 million, and $20.5 million during 2017, 2016, and 2015, respectively.

In August 2017, the Company completed the sale of approximately six acres of land located in Brea, California (the "Property"), for a total sale price of approximately $12.2 million. Approximately $5.7 million of the total sale price was received in the form of a promissory note (the "Note") and the remainder in cash. The Note is secured by a first trust deed and an assignment of rents on the Property, and bears interest at an annual rate of 3.5%, payable in monthly installments. The Note matures in August 2020, and its fair value is included in other assets in the Company's consolidated balance sheets. Only the cash portion of the total sale price of the Property, excluding the Note, is reported in the Company's consolidated statements of cash flows. Interest earned on the Note is recognized in other revenues in the Company's consolidated statements of operations. The Company recognized a gain of approximately $3.3 million on the sale transaction, which is included in other revenues in its consolidated statements of operations.