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Fixed and Intangible Assets | 3 Months Ended
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Mar. 31, 2025
Property, Plant and Equipment [Abstract] |
Fixed and Intangible Assets | 4. FIXED AND INTANGIBLE ASSETS Equipment and leasehold improvements, net consists of the following:
|  | March 31, |  | December 31,
|  | 2025 |  | 2024
Office equipment |  | $ | 22,141 |  | $ | 22,154
Furniture and fixtures |  |  | 16,954 |  |  | 16,842
Leasehold improvements |  |  | 76,485 |  |  | 75,295
Construction in progress |  |  | 3,517 |  |  | 2,556
Total |  |  | 119,097 |  |  | 116,847
Less: Accumulated depreciation and amortization |  |  | (53,321) |  |  | (51,396)
Equipment and leasehold improvements, net |  | $ | 65,776 |  | $ | 65,451
Depreciation and amortization expenses for fixed assets totaled $2,779 and $2,375 for the three months ended March 31, 2025 and 2024, respectively. As of March 31, 2025 and December 31, 2024, there we re $907 and $954 of costs capitalized, net of $1,964 and $1,917 of accumulated amortization, respectively, within prepaid expenses and other assets on our condensed consolidated statements of financial condition related to the implementation of cloud computing arrangements. The amortization expense of the capitalized costs was $47 and $58 for the three months ended March 31, 2025 and 2024, respectively. The amortization expense was recorded within communication, technology and information services on the condensed consolidated statements of operations.

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- Definition The entire disclosure for intangible assets and long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent + Details
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