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Property and Equipment
 12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
Property and Equipment
5. Property and Equipment
Property and equipment consist of the following:
 
   
December 31,
 
(in thousands)  
2020
   
2019
 
Software
  $106,250   $126,796 
Computer hardware
   69,428    76,558 
Leasehold improvements
   32,584    54,293 
Furniture, fixtures, and other
   16,736    28,868 
   
 
 
   
 
 
 
Total property and equipment
   224,998    286,515 
Less: accumulated depreciation
   (144,982)    (171,825) 
   
 
 
   
 
 
 
Total property and equipment, net
  $80,016   $114,690 
   
 
 
   
 
 
 
Depreciation expense was $45.1 million, $42.7 million, and $36.4 million related to property and equipment for the years ended December 31, 2020, 2019, and 2018, respectively.
The Company commenced a plan to strategically exit certain offices during the year ended December 31, 2020. In enacting the plan, the Company recognized $21.1 million of loss primarily related to disposal of property and equipment from abandoning several office leases for the year ended December 31, 2020.