Fixed and Intangible Assets

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

FIXED AND INTANGIBLE ASSETS

Equipment and leasehold improvements, net consists of the following:


	June 30,		December 31,
	2024		2023
Office equipment	$	18,967	$	18,931
Furniture and fixtures		16,488		16,143
Leasehold improvements		73,223		69,910
Construction in progress		3,921		1,714
Total		112,599		106,698
Less: Accumulated depreciation and amortization		(45,903)		(42,895)
Equipment and leasehold improvements, net	$	66,696	$	63,803

Depreciation and amortization expenses for fixed assets totaled $2,434 and $1,936 for the three months ended June 30, 2024 and 2023, respectively, and $4,809 and $4,009 for the six months ended June 30, 2024 and 2023, respectively.

As of June 30, 2024 and December 31, 2023, there were $1,047 and $1,151 of costs capitalized, net of $1,824 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 $46 and $122 for the three months ended June 30, 2024 and 2023, respectively, and $104 and $244 for the six months ended June 30, 2024 and 2023, respectively. The amortization expense was recorded within communication, technology and information services on the condensed consolidated statements of operations.