Fixed Assets, Net

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

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



	June 30, 2022		December 31, 2021
Leasehold improvements, furniture and fixtures, and other fixed assets	$	183,905	$	184,704
Software, including software development costs	45,718		32,851
Computer and communications equipment	28,417		27,382
Total, cost	258,040		244,937
Accumulated depreciation and amortization	(119,919)		(109,181)
Total, net	$	138,121	$	135,756

Depreciation expense for the three months ended June 30, 2022 and 2021 was $8.5 million and $5.8 million, respectively, and $15.2 million and $10.1 million for the six months ended June 30, 2022 and 2021, respectively. Newmark did not record impairment for the three and six months ended June 30, 2022 and 2021, respectively.

Capitalized software development costs for the three months ended June 30, 2022 and 2021 was $0.7 million and $0.0 million, respectively, and $1.1 million and $0.6 million for the six months ended June 30, 2022 and 2021, respectively. Amortization of software development costs totaled $0.4 million and $0.3 million for the three months ended June 30, 2022 and 2021, respectively and $0.7 million and $0.6 million for the six months ended June 30, 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.