Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

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Property and Equipment
9 Months Ended
Sep. 30, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment

Property and equipment consist of the following (in thousands):

 

   

September 30,

2018

   

December 31,

2017

 
Telecommunications equipment   $ 102,384     $ 85,472  
Leasehold improvements     11,087       10,591  
Office equipment     1,851       1,731  
Buildings and building improvements     1,540       1,540  
Furniture and fixtures     5,604       5,160  
Computer Software     37,945       32,663  
Land     470       470  
Automobiles     53       56  
Onboarding     29,049       15,727  
Network transition     52,513       45,863  
Construction-in-progress     6,005       3,680  
Total owned assets     248,501       202,953  
Less: accumulated depreciation     (151,527 )     (120,761 )
  Net owned assets     96,974       82,192  
                 
Capital lease assets     39,844       38,123  
Less: accumulated depreciation     (16,206 )     (13,758 )
  Net capital lease assets     23,638       24,365  
                 
Property and equipment, net   $ 120,612     $ 106,557  

 

For the three months ended September 30, 2018 and 2017, depreciation expense was $12.8 million and $10.8 million, respectively. For the nine months ended September 30, 2018 and 2017, depreciation expense was $33.4 million and $32.9 million, respectively.