Fixed and Intangible Assets

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Fixed and Intangible Assets

4.FIXED AND INTANGIBLE ASSETS

Equipment and leasehold improvements, net consists of the following:

	September 30,		December 31,
	2022		2021
Office equipment	$	15,585	$	15,883
Furniture and fixtures		14,334		14,303
Leasehold improvements		61,331		61,054
Construction in progress		555		—
Total		91,805		91,240
Less: Accumulated depreciation and amortization		(34,509)		(32,077)
Equipment and leasehold improvements, net	$	57,296	$	59,163

Depreciation and amortization expenses for fixed assets totaled $1,918 and $1,947 for the three months ended September 30, 2022 and 2021, respectively, and $5,798 and $5,033 for the nine months ended September 30, 2022 and 2021, respectively.

As of September 30, 2022 and December, 31, 2021, there were $1,761 and $2,127 of costs capitalized, net of $1,110 and $744 of accumulated amortization, respectively, within prepaid expenses and other assets on our condensed consolidated statements of financial condition related to the implementation of cloud computing arrangements. The amortization expense of the capitalized costs was $122 for each of the three months ended September 30, 2022 and 2021, and $366 for each of the nine months ended September 30, 2022 and 2021. The amortization expense was recorded within communication, technology and information services on the condensed consolidated statements of operations.