Fixed Assets, Net

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

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



	March 31, 2020			December 31, 2019
Leasehold improvements and other fixed assets	$	125,601		$	119,682
Software, including software development costs	28,376			28,063
Computer and communications equipment	24,330			23,028
Total, cost	178,307			170,773
Accumulated depreciation and amortization	(75,246		)	(72,757		)
Total, net	$	103,061		$	98,016

Depreciation expense for the three months ended March 31, 2020 and 2019 was $4.9 million and $4.9 million, respectively. For the three months ended March 31, 2020, Newmark recorded an impairment charge of $0.3 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 three months ended March 31, 2019.

Capitalized software development costs for the three months ended March 31, 2020 and 2019 was $1.3 million and $0.6 million, respectively. Amortization of software development costs totaled $0.3 million and $0.6 million for the three months ended March 31, 2020 and 2019, respectively. Amortization of software development costs is included as part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations.