Property and Equipment, net

12 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Property and equipment consisted of the following at December 31, 2016 and 2015 (in thousands):



	December 31,
	2016			2015
Computer equipment, software, and internally developed software	$	65,973		$	53,862
Furniture and fixtures	3,705			3,575
Leasehold improvements	6,067			4,410
Capitalized facility leases	39,302			39,154
	115,047			101,001
Less: Accumulated depreciation	(48,106		)	(29,611		)
Total property and equipment, net	$	66,941		$	71,390

The Company is considered the owner, for accounting purposes only, of one of its Santa Monica, California leased office spaces and of its San Francisco, California leased office space (collectively, the "Premises") as it had taken on certain risks of construction build cost overages above normal tenant improvement allowances. Accordingly, at December 31, 2016 and 2015, the Company has capitalized $39.3 million and $39.2 million, respectively, related to the Premises, which represents the estimated fair value of the leased properties, additions for capitalized interest incurred during the construction periods, and capitalized costs related to improvements to the buildings. For the year ended December 31, 2015, the Company capitalized approximately $2.0 million of interest costs related to the Premises. No interest costs related to the Premises were capitalized for the years ended December 31, 2016 and 2014. At December 31, 2016 and 2015, the Company had recorded accumulated amortization of $1.2 million and $0.2 million for capitalized facility leases. Additionally, at December 31, 2016 and 2015, the Company recognized a corresponding lease financing obligation of approximately $30.9 million and $28.9 million, respectively. Refer to Note 6 for additional information.

Included in the table above are property and equipment of $4.3 million and $5.3 million as of December 31, 2016 and 2015, respectively, which are capitalizable, but had not yet been placed in service. The $4.3 million and $5.3 million balances at December 31, 2016 and 2015, respectively, were comprised primarily of capitalized software not ready for its intended use.

Total depreciation and amortization expense of property and equipment was $19.3 million, $13.5 million and $8.9 million for the years ended December 31, 2016, 2015, and 2014, respectively.

Amortization of internal use capitalized software development costs was $14.7 million, $8.8 million and $5.7 million for the years ended December 31, 2016, 2015, and 2014, respectively.

Amortization of capitalized facility leases was $1.0 million and $0.2 million for the years ended December 31, 2016 and 2015.