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Fixed Assets, Net | 3 Months Ended
--- | ---
Mar. 31, 2024
Property, Plant and Equipment [Abstract] |
Fixed Assets, Net | Fixed Assets, Net Fixed assets, net consisted of the following (in thousands):
| March 31, 2024 |  | December 31, 2023
Leasehold improvements, furniture and fixtures, and other fixed assets | $ | 246,185 |  |  | $ | 245,262 |
Software, including software development costs | 59,238 |  |  | 56,883 |
Computer and communications equipment | 38,049 |  |  | 37,693 |
Total, cost | 343,472 |  |  | 339,838 |
Accumulated depreciation and amortization | (169,787) |  |  | (161,803) |
Total, net | $ | 173,685 |  |  | $ | 178,035 |
Depreciation expense for the three months ended March 31, 2024 and 2023 was $11.4 million and $9.2 million, respectively. Newmark recorded an impairment charge of $1.8 million and $0.9 million for the three months ended March 31, 2024 and 2023, respectively. 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, 2024 and 2023 were $2.0 million and $2.9 million, respectively. Amortization of software development costs totaled $0.9 million and $0.6 million for the three months ended March 31, 2024 and 2023, respectively. Amortization of software development costs is included as part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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