Fixed Assets, Net

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Fixed assets, net consisted of the following (in thousands):



	December 31, 2019			December 31, 2018
Leasehold improvements and other fixed assets	$	119,682		$	99,207
Software, including software development costs	21,538			21,417
Computer and communications equipment	23,028			16,605
Total, cost	164,248			137,229
Accumulated depreciation and amortization	(66,232		)	(58,424		)
Total, net	$	98,016		$	78,805

Depreciation expense for the years ended December 31, 2019, 2018 and 2017 was $22.7 million, $13.7 million and $12.2 million, respectively. For the year ended December 31, 2019, Newmark recorded an impairment charge of $5.0 million in internally developed software. The impairment charge is included as a part of “Depreciation and amortization” on the accompanying consolidated statements of operations. There were no impairment charges for the years ended December 31, 2018 and 2017, respectively.

Capitalized software development costs for the years ended December 31, 2019, 2018, and 2017 was $5.9 million, $2.4 million and $1.1 million respectively. Amortization of software development costs totaled $2.0 million, $0.9 million and $0.4 million for the years ended December 31, 2019, 2018 and 2017, respectively. Amortization of software development costs is included as part of “Depreciation and amortization” on the accompanying consolidated statements of operations.