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Furniture, Equipment and Leasehold Improvements, Net
 12 Months Ended
Dec. 31, 2024
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:
Years Ended December 31
20242023
(in thousands)
Furniture and equipment (1)
$151,478 $168,415 
Leasehold improvements (1)
249,422 326,131 
Total (1)
400,900 494,546 
Less: Accumulated depreciation and amortization (1)
(152,227)(318,198)
Furniture, equipment and leasehold improvements, net (1)
$248,673 $176,348 
(1)During the fourth quarter of 2024, due to our exit from our previous New York office location, we disposed of approximately $201.8 million in assets with a net book value of $3.1 million.
Depreciation and amortization expense on furniture, equipment and leasehold improvements were $44.9 million, $44.9 million and $39.7 million for the years ended December 31, 2024, 2023 and 2022, respectively.