Fixed Assets

12 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

The following table presents the components of fixed assets:


	December 31,
	2020		2019
	(Amounts in thousands)
Land	$	18,152	$	18,152
Buildings and improvements	139,274		140,567
Furniture and equipment	46,450		70,355
Capitalized software	254,066		244,425
Leasehold improvements	7,004		7,547
	464,946		481,046
Less: accumulated depreciation and amortization	(286,023)		(312,060)
Fixed assets, net	$	178,923	$	168,986

Depreciation expense, including amortization of leasehold improvements, was $28.0 million, $23.2 million, and $19.9 million for 2020, 2019, and 2018, respectively.

In August 2017, the Company completed the sale of approximately six acres of land located in Brea, California (the "Property"), for a total sale price of approximately $12.2 million. Approximately $5.7 million of the total sale price was received in the form of a promissory note (the "Note") and the remainder in cash. The Note is secured by a first trust deed and an assignment of rents on the Property, and bears interest at an annual rate of 3.5%, payable in monthly installments. The Note was originally set to mature on August 31, 2020. Effective August 1, 2020, the maturity date was extended to August 31, 2021,

with no change in the annual interest rate. The fair value of the Note is included in other assets in the Company's consolidated balance sheets, and interest earned on the Note is recognized in other revenues in the Company's consolidated statements of operations.