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Other Assets, Net | 9 Months Ended
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Sep. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] |
Other Assets, Net | Other Assets, Net Other assets, net consisted of the following (in thousands):
| September 30, 2022 |  | December 31, 2021
Assets held in Rabbi Trust | $ | 30,199 |  |  | $ | 41,607 |
Right-of-use assets for operating leases, net | 10,331 |  |  | 15,395 |
Capitalized software, net (1) | 16,404 |  |  | 14,666 |
Equity method investment (2) | 14,772 |  |  | 17,008 |
Deferred loan costs, net | 939 |  |  | 1,115 |
Notes receivable (3) | 4,500 |  |  | — |
Other non-current assets | 4,613 |  |  | 2,838 |
Total Other assets, net | $ | 81,758 |  |  | $ | 92,629 |
(1) Accumulated amortization of capitalized software was $36.3 million and $35.5 million as of September 30, 2022 and December 31, 2021, respectively. (2) In June 2019, Kforce entered into a joint venture resulting in a 50% noncontrolling interest in WorkLLama, LLC (“WorkLLama”), which is accounted for as an equity method investment. The loss on this WorkLLama investment was $0.9 million and $2.7 million for the three months and nine months ended September 30, 2022, respectively. In addition, Kforce contributed $0.5 million and $9.0 million of capital during the nine months ended September 30, 2022 and the year ended December 31, 2021, respectively. Refer to Note L - “Commitments and Contingencies” for more information on contingencies related to WorkLLama. (3) In the three months ended June 30, 2022, Kforce loaned WorkLLama LLC $2.0 million, pursuant to a secured promissory note. In the three months ended September 30, 2022, Kforce amended the secured promissory note and increased the total amount available to loan to WorkLLama by an additional $4.0 million, of which an additional $2.5 million was extended, resulting in an outstanding balance of $4.5 million at September 30, 2022. All of the notes have the same terms, bearing interest at 7% annually with principal and accrued interest payable in a single payment in June 2025.

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