Fixed Assets, Net

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

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


	December 31,
	2020		2019
Leasehold improvements and other fixed assets	$	126,428	$	119,682
Software, including software development costs	30,928		21,538
Computer and communications equipment	26,168		23,028
Total, cost	183,524		164,248
Accumulated depreciation and amortization	(87,157)		(66,232)
Total, net	$	96,367	$	98,016

Depreciation expense for the years ended December 31, 2020, 2019 and 2018 was $22.9 million and $22.7 million and $13.7 million, respectively. For the years ended December 31, 2020 and 2019, Newmark recorded an impairment charge of $6.0 million and $5.0 million, respectively. There was no impairments recorded for the year ended December 21, 2018. The impairment charge is included as a part of “Depreciation and amortization” on the accompanying consolidated statements of operations.

Capitalized software development costs for the years ended December 31, 2020, 2019 and 2018 were $2.0 million and $5.9 million and $2.4 million, respectively. Amortization of software development costs totaled $1.3 million, $2.0 million and $0.9 million for the years ended December 31, 2020, 2019 and 2018, respectively. Amortization of software development costs is included as part of “Depreciation and amortization” on the accompanying consolidated statements of operations.