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Property and Equipment, Net
 3 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net
Property and Equipment, Net

Property and equipment, net as of March 31, 2018 and December 31, 2017 consists of the following:

(in thousands)
2018
 
2017
Land
$
7,476

 
$
7,476

Buildings
6,487

 
6,487

Furniture and equipment
65,413

 
63,255

Capitalized software
889,188

 
878,156

Leasehold improvements
40,258

 
39,990

Construction in progress
399

 
1,349

 
1,009,221

 
996,713

Less accumulated depreciation
(565,352
)
 
(549,054
)
Property and equipment, net
$
443,869

 
$
447,659



Depreciation expense for property and equipment was approximately $21.8 million and $20.6 million for the three months ended March 31, 2018 and 2017, respectively.