Property and Equipment, Net

9 Months Ended

Sep. 30, 2017

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property, Equipment and Software Net

Property and equipment, net as of September 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	64,843			61,582
Capitalized software	917,825			866,398
Leasehold improvements	41,031			29,420
Construction in progress	1,461			20,613
	1,039,123			991,782
Less accumulated depreciation	(585,247		)	(542,583		)
Property and equipment, net	$	453,876		$	449,199

Depreciation expense for property and equipment was approximately $21.4 million and $21.1 million for the three months ended September 30, 2017 and 2016, respectively, and $62.1 million and $61.7 million for the nine months ended September 30, 2017 and 2016, respectively.