PROPERTY AND EQUIPMENT

9 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT:

PROPERTY AND EQUIPMENT:

Property and equipment is summarized as follows (dollars in thousands):

	December 31, 2019		March 31, 2019
Leasehold improvements	$	24,964	$	20,097
Data processing equipment	9,552		37,678
Office furniture and other equipment	9,003		7,077
	43,519		64,852
Less accumulated depreciation and amortization	23,137		38,809
	$	20,382	$	26,043

Depreciation expense on property and equipment was $12.8 million and $10.7 million for the nine months ended December 31, 2019 and 2018, respectively. Depreciation expense for the nine months ended December 31, 2019 and 2018 included $3.6 million and $2.0 million, respectively, of accelerated depreciation expense associated with the reduced useful life of certain IT equipment in connection with the Company's migration to a cloud-based data center solution.