Fixed Assets

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Fixed Assets

Fixed Assets

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

(in thousands)	2022		2021
Software	$	312,126	$	259,586
Land, buildings, and building improvements	213,263		211,624
Equipment	43,430		42,295
Furniture and fixtures	21,794		21,694
Leasehold improvements	1,393		1,342
Projects in progress	63,317		34,569
Total fixed assets, gross	655,323		571,110
Less: Accumulated depreciation and amortization	(241,449)		(196,308)
Fixed assets, net	$	413,874	$	374,802

Software increased primarily due to the renewal of desktop and mainframe software licenses as well as internally developed software projects completed and placed in service.

Projects in progress include certain computer software and software developments costs for internal use that are not yet subject to amortization as well as home office renovations that are not yet subject to depreciation. The increase in projects in progress is primarily due to an increase in software development costs.

Depreciation and amortization of fixed assets totaled $45.9 million, $37.2 million and $21.2 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is included in cost of operations - policy issuance and renewal services.