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Fixed Assets
12 Months Ended
Dec. 31, 2020
Property Plant And Equipment [Abstract]  
Fixed Assets

NOTE 9 – Fixed Assets

The following is a summary of fixed assets as of December 31, 2020 and 2019 (in thousands):

 

 

 

December 31,

 

 

 

2020

 

 

2019

 

Office equipment

 

$

323,841

 

 

$

288,975

 

Leasehold improvements

 

 

105,187

 

 

 

120,570

 

Building

 

 

62,803

 

 

 

58,804

 

Aircraft engine operating leases

 

 

 

 

 

206,315

 

 

 

 

491,831

 

 

 

674,664

 

Accumulated depreciation and amortization

 

 

(323,916

)

 

 

(292,499

)

 

 

$

167,915

 

 

$

382,165

 

 

For the years ended December 31, 2020, 2019, and 2018, depreciation and amortization totaled $40.9 million, $38.4 million, and $27.9 million, respectively.

As of December 31, 2019, the Company had a total lease portfolio of 14 aircraft engines with a net book value of $200.4 million. Lease income, included in other income in the consolidated statements of operations, was $20.9 million for year ended December 31, 2019.

During the year ended December 31, 2020, Stifel Bancorp’s equity in North Shore was redeemed. As a result, we deconsolidated the related assets, liabilities, and non-controlling interests of North Shore. For more information, see Note 1 – Nature of Operations and Basis of Presentation.