XML 36 R24.htm IDEA: XBRL DOCUMENT
v3.20.1

Fixed Assets, Net | 3 Months Ended
--- | ---
Mar. 31, 2020
Property Plant And Equipment [Abstract] |
Fixed Assets, Net |
1 6. | Fixed Assets, Net
Fixed assets, net consisted of the following (in thousands):
|  | March 31, 2020 |  |  | December 31, 2019 |
Computer and communications equipment |  | $ | 96,032 |  |  | $ | 95,115 |
Software, including software development costs |  |  | 243,434 |  |  |  | 235,230 |
Leasehold improvements and other fixed assets |  |  | 117,695 |  |  |  | 116,231 |
|  |  | 457,161 |  |  |  | 446,576 |
Less: accumulated depreciation and amortization |  |  | (254,146 | ) |  |  | (241,735 | )
Fixed assets, net |  | $ | 203,015 |  |  | $ | 204,841 |
Depreciation expense was $6.1 million and $5.0 million for the three months ended March 31, 2020 and 2019, respectively. Depreciation is included as part of “Occupancy and equipment” in the Company’s unaudited condensed consolidated statements of operations. The Company has $5.4 million of asset retirement obligations related to certain of its leasehold improvements as of March 31, 2020. The associated asset retirement cost is capitalized as part of the carrying amount of the long-lived asset. The liability is discounted and accretion expense is recognized using the credit adjusted risk-free interest rate in effect when the liability was initially recognized. For the three months ended March 31, 2020 and 2019, software development costs totaling $12.9 million and $6.3 million, respectively, were capitalized. Amortization of software development costs totaled $7.6 million and $6.2 million for the three months ended March 31, 2020 and 2019, respectively. Amortization of software development costs is included as part of “Occupancy and equipment” in the Company’s unaudited condensed consolidated statements of operations. Impairment charges of $4.8 million and $0.4 million were recorded for the three months ended March 31, 2020 and 2019, respectively, related to the evaluation of capitalized software projects for future benefit and for fixed assets no longer in service. Impairment charges related to capitalized software and fixed assets are reflected in “Occupancy and equipment” in the Company’s unaudited condensed consolidated statements of operations.

X
- References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration