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Property and Equipment
 12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
The following table summarizes the Company’s property and equipment:
 
December 31,
(in thousands)
2019
 
2018
Equipment
$
5,951

 
$
5,590

Furniture and fixtures
3,651

 
3,644

Software
19,988

 
17,591

Leasehold improvements
16,048

 
16,028

Subtotal
45,638

 
42,853

Less: Accumulated depreciation and amortization
(33,152
)
 
(28,747
)
Property and equipment, net
$
12,486

 
$
14,106

 
Depreciation and amortization expense related to property and equipment was $4,396,000, $4,378,000 and $4,229,000 for the years ended December 31, 2019, 2018 and 2017, respectively.
Depreciation and amortization expense related to property and equipment is recorded using the straight-line method over the estimated useful lives of the related assets which range from 3-7 years. Leasehold improvements are amortized using the straight-line method over the lease term.