Fixed Assets

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

The following table presents the components of fixed assets:



	December 31,
	2019			2018
	(Amounts in thousands)
Land	$	18,152		$	18,144
Buildings and improvements	140,567			138,238
Furniture and equipment	70,355			123,021
Capitalized software	244,425			222,903
Leasehold improvements	7,547			9,986
	481,046			512,292
Less: accumulated depreciation and amortization	(312,060		)	(359,269		)
Fixed assets, net	$	168,986		$	153,023

Depreciation expense, including amortization of leasehold improvements, was $23.2 million, $19.9 million, and $21.2 million for 2019, 2018, and 2017, 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.