Fixed and Intangible Assets

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

FIXED AND INTANGIBLE ASSETS

Equipment and leasehold improvements, net consists of the following:


	March 31,		December 31,
	2024		2023
Office equipment	$	17,535	$	18,931
Furniture and fixtures		16,371		16,143
Leasehold improvements		72,687		69,910
Construction in progress		3,722		1,714
Total		110,315		106,698
Less: Accumulated depreciation and amortization		(43,522)		(42,895)
Equipment and leasehold improvements, net	$	66,793	$	63,803

Depreciation and amortization expenses for fixed assets totaled $2,375 and $2,073 for the three months ended March 31, 2024 and 2023, respectively.

As of March 31, 2024 and December 31, 2023, there were $1,093 and $1,151 of costs capitalized, net of $1,778 and $1,720 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 $58 and $122 for each of the three months ended March 31, 2024 and 2023, respectively. The amortization expense was recorded within communication, technology and information services on the condensed consolidated statements of operations.