Property and Equipment

12 Months Ended

Dec. 31, 2018

Property and Equipment

Property and Equipment

7. Property and Equipment

Property and equipment consist of the following (in thousands):

		As of December 31,
	Depreciable Life	2018		2017
Leasehold improvements	Shorter of estimated useful life or life of lease	$	3,278	$	3,227
Office furniture, fixtures and equipment	2 - 10 years		14,392		12,004
Total property and equipment			17,670		15,231
Less accumulated depreciation			(13,280)		(12,326)
Total property and equipment, net		$	4,390	$	2,905

Depreciation expense was $1.2 million,  $0.9 million and $0.9 million for the years ended December 31, 2018,  2017 and 2016, respectively.