PROPERTY AND EQUIPMENT

6 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT:

PROPERTY AND EQUIPMENT:

Property and equipment is summarized as follows (dollars in thousands):

	September 30, 2019		March 31, 2019
Leasehold improvements	$	23,981	$	20,097
Data processing equipment	31,785		37,678
Office furniture and other equipment	8,674		7,077
	64,440		64,852
Less accumulated depreciation and amortization	43,278		38,809
	$	21,162	$	26,043

Depreciation expense on property and equipment was $10.4 million and $5.8 million for the six months ended September 30, 2019 and 2018, respectively. Depreciation expense for the six months ended September 30, 2019 included $3.6 million of accelerated depreciation expense associated with the reduced useful life of certain IT equipment in connection with the Company's migration to a cloud-based data center solution.