Fixed Assets

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

The following table summarizes our fixed assets by category as of December 31:


(in thousands)	2020		2019
Software	$	196,139	$	191,709
Land, buildings, and building improvements	121,332		5,068
Equipment	37,426		14,546
Furniture and fixtures	20,998		1,934
Leasehold improvements	1,313		1,313
Projects in progress	47,277		22,992
Construction in progress	—		122,801
Total fixed assets, gross	424,485		360,363
Less: Accumulated depreciation and amortization	(159,144)		(138,984)
Fixed assets, net	$	265,341	$	221,379

Land, buildings, and building improvements, equipment, and furniture and fixtures increased due to the completion of a new office building serving as part of our principal headquarters in the fourth quarter of 2020. The building was financed using a senior secured draw term loan credit facility. See Note 9, "Borrowing Arrangements". Interest capitalized during construction was $3.5 million, $3.4 million, and $1.5 million for the years ended December 31, 2020, 2019 and 2018, respectively. Projects in progress include certain computer software and software developments costs for internal use that are not yet subject to amortization. Depreciation and amortization of fixed assets totaled $21.2 million, $16.8 million and $13.4 million for the years ended December 31, 2020, 2019 and 2018, respectively, and is included in cost of operations - policy issuance and renewal services.