Fixed and Intangible Assets

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

FIXED AND INTANGIBLE ASSETS

Equipment and leasehold improvements, net consists of the following:


	September 30,		December 31,
	2023		2022
Office equipment	$	18,217	$	16,157
Furniture and fixtures		14,452		14,386
Leasehold improvements		62,365		61,293
Construction in progress		9,614		1,438
Total		104,648		93,274
Less: Accumulated depreciation and amortization		(42,104)		(36,122)
Equipment and leasehold improvements, net	$	62,544	$	57,152

Depreciation and amortization expenses for fixed assets totaled $2,014 and $1,918 for the three months ended September 30, 2023 and 2022, respectively, and $6,023 and $5,798 for the nine months ended September 30, 2023 and 2022, respectively.

As of September 30, 2023 and December 31, 2022, there were $1,273 and $1,639 of costs capitalized, net of $1,598 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 September 30, 2023 and 2022, respectively, and $366 for each of the nine months ended September 30, 2023 and 2022, respectively. The amortization expense was recorded within communication, technology and information services on the condensed consolidated statements of operations.