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PROPERTY, EQUIPMENT AND SOFTWARE
 6 Months Ended
Jun. 30, 2019
Property, Plant and Equipment [Abstract]  
PROPERTY, EQUIPMENT AND SOFTWARE PROPERTY, EQUIPMENT AND SOFTWARE

The Company's property, equipment, and software balance primarily consists of furniture, fixtures, and equipment used in the normal course of business, computer software developed for internal use, and leasehold improvements. Computer software represents purchased software and internally developed back office and merchant interfacing systems used to assist the reporting of merchant processing transactions and other related information.

A summary of property, equipment, and software as of June 30, 2019 and December 31, 2018 follows:
(in thousands)
June 30, 2019
 
December 31, 2018
 
Useful Life
Furniture and fixtures
$
2,329

 
$
2,254

 
2-7 years
Equipment
10,169

 
8,164

 
3-7 years
Computer software
32,251

 
27,804

 
3-5 years
Leasehold improvements
5,993

 
5,935

 
5-10 years
 
50,742

 
44,157

 
 
Less accumulated depreciation
(29,710
)
 
(26,675
)
 
 
Property, equipment, and software, net
$
21,032

 
$
17,482

 
 


Depreciation expense for property, equipment, and software expense totaled $1.6 million and $1.2 million for the quarter ended June 30, 2019 and June 30, 2018, respectively, and $3.0 million and $2.3 million for the six months ended June 30, 2019 and June 30, 2018, respectively.