Premises and Equipment, Net

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

Premises and Equipment, Net Disclosure

Premises and Equipment, Net

Premises and equipment, net consist of the following (dollars in thousands):

	Successor			Predecessor			Useful Life (in years)
	December 31, 2018			December 31, 2017
Computer software	$	74,050		$	246,271		3 - 7
Leasehold improvements and other	6,131			12,699			2 - 9
Computer hardware	2,154			33,154			3
Furniture and fixtures	165			7,812			3
Assets in development	1,755			2,008
Total premises and equipment	84,255			301,944
Less: accumulated depreciation and amortization	(17,995		)	(251,731		)
Premises and equipment, net	$	66,260		$	50,213

In connection with the adoption of fresh start accounting on February 9, 2018, the Company adjusted premises and equipment to fair value, which included an adjustment to increase computer software by $33.7 million to reflect the fair value of internally developed technology. With the exception of computer software, the net carrying value of the assets approximated fair value. Accordingly, the accumulated depreciation for each asset classification was netted against the gross asset amount to arrive at the gross asset balances under fresh start accounting. Refer to Note 2 for additional information regarding fresh start accounting adjustments.

The Company recorded depreciation and amortization expense for premises and equipment of $18.2 million, $3.6 million and $37.6 million, which includes amortization expense for computer software of $15.2 million, $3.2 million and $31.0 million, for the period from February 10, 2018 through December 31, 2018, the period from January 1, 2018 through February 9, 2018 and the year ended December 31, 2017, respectively. Unamortized computer software costs were $58.8 million and $38.7 million at December 31, 2018 and 2017, respectively.