Fixed Assets

The following table presents the components of fixed assets:



	December 31,
	2018			2017
	(Amounts in thousands)
Land	$	18,144		$	18,152
Buildings and improvements	138,238			136,827
Furniture and equipment	123,021			118,647
Capitalized software	222,903			202,488
Leasehold improvements	9,986			9,632
	512,292			485,746
Less: accumulated depreciation and amortization	(359,269		)	(340,523		)
Fixed assets, net	$	153,023		$	145,223

Depreciation expense, including amortization of leasehold improvements, was $19.9 million, $21.2 million, and $20.3 million for 2018, 2017, and 2016, 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.