Fixed Assets, Net

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

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



	June 30, 2020			December 31, 2019
Leasehold improvements and other fixed assets	$	127,102		$	119,682
Software, including software development costs	29,082			28,063
Computer and communications equipment	25,071			23,028
Total, cost	181,255			170,773
Accumulated depreciation and amortization	(78,654		)	(72,757		)
Total, net	$	102,601		$	98,016

Depreciation expense for the three months ended June 30, 2020 and 2019 was $3.4 million and $4.4 million, respectively, and $8.3 million and $9.3 million for the six months ended June 30, 2020 and 2019, respectively. Newmark recorded an impairment charge of $1.3 million for the three months ended March 31, 2020 for internally developed software. Newmark did not record impairments for the three months ended June 30, 2020. The impairment charge is included as a part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations. There were no impairment charges for the three and six months ended June 30, 2019.

Capitalized software development costs for the three months ended June 30, 2020 and 2019 were $0.8 million and $1.6 million, respectively, and $2.1 million and $2.2 million for the six months ended June 30, 2020 and 2019, respectively. Amortization of software development costs totaled $0.2 million and $0.6 million for the three months ended June 30, 2020 and 2019, respectively, and $0.6 million and $1.1 million for the six months ended June 30, 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.