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PROPERTY AND EQUIPMENT
 3 Months Ended
Jun. 30, 2020
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT: PROPERTY AND EQUIPMENT:
Property and equipment is summarized as follows (dollars in thousands):
June 30, 2020March 31, 2020
Leasehold improvements$26,121  $25,614  
Data processing equipment9,603  9,499  
Office furniture and other equipment9,353  9,673  
45,077  44,786  
Less accumulated depreciation and amortization27,969  25,465  
$17,108  $19,321  
Depreciation expense on property and equipment was $2.5 million and $5.3 million for the three months ended June 30, 2020 and 2019, respectively. Depreciation expense for the three months ended June 30, 2019 included $1.9 million of accelerated depreciation expense associated with the reduced useful life of certain IT equipment in connection with the Company's migration to a cloud-based data center solution.