Fixed and Intangible Assets

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

FIXED AND INTANGIBLE ASSETS

Equipment and leasehold improvements, net consists of the following:


	June 30,		December 31,
	2023		2022
Office equipment	$	18,171	$	16,157
Furniture and fixtures		14,490		14,386
Leasehold improvements		62,432		61,293
Construction in progress		5,052		1,438
Total		100,145		93,274
Less: Accumulated depreciation and amortization		(40,319)		(36,122)
Equipment and leasehold improvements, net	$	59,826	$	57,152

Depreciation and amortization expenses for fixed assets totaled $1,936 and $1,841 for the three months ended June 30, 2023 and 2022, respectively, and $4,009 and $3,880 for the six months ended June 30, 2023 and 2022, respectively.

As of June 30, 2023 and December 31, 2022, there were $1,395 and $1,639 of costs capitalized, net of $1,476 and $1,232 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 June 30, 2023 and 2022, respectively, and $244 for each of the six months ended June 30, 2023 and 2022, respectively. The amortization expense was recorded within communication, technology and information services on the condensed consolidated statements of operations.