Furniture, Fixtures, Equipment and Building Improvements

12 Months Ended

Dec. 31, 2019

Furniture, Fixtures, Equipment and Building Improvements

Furniture, fixtures, equipment and building improvements

Furniture, Fixtures, Equipment and Building Improvements

Note 11—Furniture, Fixtures, Equipment and Building Improvements

Furniture, fixtures, equipment and building improvements is summarized below:

	December 31,
	2019		2018
	(in thousands)
Furniture, fixtures, equipment and building improvements	$	57,012	$	55,251
Less: Accumulated depreciation and amortization		(26,532)		(21,877)
	$	30,480	$	33,374
Fixed assets pledged to secure obligations under capital lease	$	20,406	$	16,281

Depreciation and amortization expenses are summarized below:

	Year ended December 31,
	2019		2018		2017
	(in thousands)
Depreciation and amortization expenses	$	9,018	$	9,500	$	8,150
Less: Depreciation and amortization allocated to PMT(1)		—		—		(1,396)
Depreciation and amortization expenses included in Occupancy and equipment	$	9,018	$	9,500	$	6,754

(1) The Company’s management agreement with PMT provides for allocation by the Company of certain common overhead costs to PMT. The Company adopted ASU 2014-09, using the modified retrospective method effective January 1, 2018. Adoption of ASU 2014-09 required the Company to include those reimbursements from PMT of $1.2 million and $1.2 million in Other revenue for the years ended December 31, 2019 and 2018, respectively. Before adoption of ASU 2014-09, the Company included such reimbursements in the respective expense line items.