Quarterly report pursuant to Section 13 or 15(d)

Property, Equipment and Software

v3.19.1
Property, Equipment and Software
3 Months Ended
Mar. 31, 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 March 31, 2019 and December 31, 2018 follows:
(in thousands)
March 31, 2019
 
December 31, 2018
 
Useful Life
Furniture and fixtures
$
2,254

 
$
2,254

 
2-7 years
Equipment
8,243

 
8,164

 
3-7 years
Computer software
30,055

 
27,804

 
3-5 years
Leasehold improvements
5,943

 
5,935

 
5-10 years
 
46,495

 
44,157

 
 
Less accumulated depreciation
(28,114
)
 
(26,675
)
 
 
Property, equipment, and software, net
$
18,381

 
$
17,482

 
 


Depreciation expense totaled $1.4 million and $1.1 million for the quarters ended March 31, 2019 and March 31, 2018, respectively.