Furniture, Equipment and Leasehold Improvements, Net

12 Months Ended

Dec. 31, 2015

Property, Plant and Equipment [Abstract]

Furniture, Equipment and Leasehold Improvements, Net

Furniture, Equipment and Leasehold Improvements, Net

Furniture, equipment and leasehold improvements, net consist of:

	December 31,
	2015			2014
	(in thousands)
Furniture and equipment	$	529,488		$	532,512
Leasehold improvements	258,280			259,588
	787,768			792,100
Less: Accumulated depreciation and amortization	(627,408		)	(631,144		)
Furniture, equipment and leasehold improvements, net	$	160,360		$	160,956

Depreciation and amortization expense on furniture, equipment and leasehold improvements were $29.0 million, $36.2 million and $36.5 million for the years ended December 31, 2015, 2014 and 2013, respectively.

During 2015, 2014 and 2013, we recorded $1.0 million, $0.1 million and $28.4 million, respectively, in pre-tax real estate charges. Included in these charges during 2014 and 2013 were $5.5 million and $4.4 million, respectively, worth of leasehold improvements, furniture and equipment we wrote off related to the respective spaces. See Note 3 for further discussion of the real estate charges.