Property and Equipment, Net

3 Months Ended

Mar. 31, 2017

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property, Equipment and Software Net

Property and equipment, net as of March 31, 2017 and December 31, 2016 consists of the following:

(in thousands)	2017			2016
Land	$	7,476		$	7,476
Buildings	6,506			6,293
Furniture and equipment	81,301			82,195
Capitalized software	874,702			866,398
Leasehold improvements	23,209			29,420
	993,194			991,782
Less accumulated depreciation	(552,799		)	(542,583		)
Property and equipment, net	$	440,395		$	449,199

Depreciation expense for property and equipment was approximately $20.6 million and $19.2 million for the three months ended March 31, 2017 and 2016, respectively.