Fixed Assets, Net

3 Months Ended

Mar. 31, 2021

Property, Plant and Equipment [Abstract]

Fixed assets, net consisted of the following (in thousands):


	March 31, 2021		December 31, 2020
Leasehold improvements, furniture and fixtures, and other fixed assets	$	148,709	$	126,428
Software, including software development costs	31,691		30,928
Computer and communications equipment	26,396		26,168
Total, cost	206,796		183,524
Accumulated depreciation and amortization	(91,344)		(87,157)
Total, net	$	115,452	$	96,367

Depreciation expense for the three months ended March 31, 2021 and 2020 was $4.3 million and $4.9 million, respectively. Newmark did not record impairment for the three months ended March 31, 2021. For the three months ended March 31, 2020, Newmark recorded an impairment charge of $0.3 million. The impairment charge is included as a part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations.

Capitalized software development costs for the three months ended March 31, 2021 and 2020 was $0.6 million and $1.3 million, respectively. Amortization of software development costs totaled $0.3 million and $0.3 million for the three months ended March 31, 2021 and 2020, respectively. Amortization of software development costs is included as part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations.