Property and Equipment, Net

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following at December 31:



	Useful Lives (years)	2017			2016
Land	—	$	9,958		$	9,958
Building and leasehold improvements	5-39	116,214			94,924
Computer equipment and purchased software	3-5	72,531			55,627
Furniture and fixtures	5	24,834			19,897
Transportation equipment	5	476			447
		224,013			180,853
Accumulated depreciation and amortization		(71,698		)	(56,585		)
Property and equipment, net		$	152,315		$	124,268

Depreciation expense was $17.3 million during 2017, $13.4 million during 2016, and $9.1 million during 2015.

In 2017, we purchased an office building in Latham, New York for approximately $2.9 million and paid $2.1 million for improvements to that building. We also paid $19.4 million for construction to expand our office building in Yarmouth, Maine.

In 2016, we purchased an office building in Falmouth, Maine, that was previously leased from an entity owned by an executive’s father and brother, for approximately $9.7 million, and paid $8.0 million for construction to expand our office building in Yarmouth, Maine.

We own office buildings in Bangor, Falmouth and Yarmouth, Maine; Lubbock and Plano, Texas; Troy, Michigan; Latham, New York; and Moraine, Ohio. We lease space in some of these buildings to third-party tenants. These leases expire between 2019 and 2025 and are expected to provide rental income of approximately $1.5 million during 2018, $1.4 million during 2019, $1.4 million during 2020, $1.4 million during 2021, $1.5 million during 2022, and $4.3 million thereafter. Rental income from third-party tenants was $1.5 million in 2017, $1.7 million in 2016, and $0.9 million in 2015.