Property and Equipment, Net

6 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property, Equipment and Software Net

Property and equipment, net as of June 30, 2017 and December 31, 2016 consists of the following:

(in thousands)	2017			2016
Land	$	7,476		$	7,476
Buildings	6,487			6,293
Furniture and equipment	63,881			61,582
Capitalized software	884,880			866,398
Leasehold improvements	40,847			29,420
Construction in progress	1,322			20,613
	1,004,893			991,782
Less accumulated depreciation	(571,500		)	(542,583		)
Property and equipment, net	$	433,393		$	449,199

Depreciation expense for property and equipment was approximately $20.1 million and $21.4 million for the three months ended June 30, 2017 and 2016, respectively, and $40.7 million and $40.6 million for the six months ended June 30, 2017 and 2016, respectively.