Fixed Assets, Net

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

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



	March 31, 2022		December 31, 2021
Leasehold improvements, furniture and fixtures, and other fixed assets	$	189,643	$	184,704
Software, including software development costs	34,271		32,851
Computer and communications equipment	28,188		27,382
Total, cost	252,102		244,937
Accumulated depreciation and amortization	(114,614)		(109,181)
Total, net	$	137,488	$	135,756

Depreciation expense for the three months ended March 31, 2022 and 2021 was $6.7 million and $4.3 million, respectively. Newmark did not record impairment for the three months ended March 31, 2022 and 2021, respectively.

Capitalized software development costs for the three months ended March 31, 2022 and 2021 was $0.3 million and $0.6 million, respectively. Amortization of software development costs totaled $0.3 million and $0.3 million for the three months ended March 31, 2022 and 2021, respectively. Amortization of software development costs is included as part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations.