Capitalized Software, Furniture, Equipment and Leasehold Improvements

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Capitalized Software, Furniture, Equipment and Leasehold Improvements

8. Capitalized Software, Furniture, Equipment and Leasehold Improvements

Capitalized software development costs, furniture, equipment and leasehold improvements, net of accumulated depreciation and amortization, are comprised of the following:

	As of December 31,
	2025				2024
		(In thousands)
Software development costs	$		363,775		$	307,722
Computer hardware and related software			49,011			50,770
Office hardware			7,746			7,201
Furniture and fixtures			6,716			6,520
Leasehold improvements			31,937			31,386
			459,185			403,599
Accumulated depreciation and amortization			(346,754	)		(296,301	)
Total	$		112,431		$	107,298

During the years ended December 31, 2025 and 2024, software development costs totaling $53.0 million and $49.1 million, respectively, were capitalized. Non-capitalized software costs and routine maintenance costs are expensed as incurred and are included in employee compensation and benefits and professional and consulting fees in the Consolidated Statements of Operations.