Property and Equipment

3 Months Ended

Mar. 31, 2019

Property Plant And Equipment [Abstract]

Property and Equipment

5. Property and Equipment

As of March 31, 2019 and December 31, 2018, property and equipment consisted of the following:

(in thousands)	March 31, 2019			December 31, 2018
Building	$	—		$	71,780
Computer equipment		21,453			21,448
Leasehold improvements		55,945			56,396
Furniture, fixtures, and other assets		10,822			10,566
Gross property and equipment		88,220			160,190
Less: Accumulated depreciation		(42,688	)		(42,472	)
Property and equipment, net	$	45,532		$	117,718

Depreciation expense was $4.3 million and $4.7 million, during the three months ended March 31, 2019 and 2018, respectively.

Upon adoption of ASC 842, the Company derecognized amounts previously capitalized related to its San Mateo lease included in the Building line item, as well as the related accumulated depreciation, as of December 31, 2018 (see Notes 2 and 8 for additional information).