Property and Equipment

12 Months Ended

Dec. 31, 2019

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	2019		2018
Leasehold improvements	Shorter of estimated useful life or life of lease	$	3,327	$	3,278
Office furniture, fixtures and equipment	2 - 10 years		17,057		14,392
Total property and equipment			20,384		17,670
Less accumulated depreciation			(14,940)		(13,280)
Total property and equipment, net		$	5,444	$	4,390

Depreciation expense was $1.7 million, $1.2 million and $0.9 million for the years ended December 31, 2019, 2018 and 2017, respectively.