Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

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Property and Equipment
6 Months Ended
Jun. 30, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment

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

 

   

June 30,

2018

   

December 31,

2017

 
Telecommunications equipment   $ 100,722     $ 85,472  
Leasehold improvements     11,110       10,591  
Office equipment     1,838       1,731  
Buildings and building improvements     1,540       1,540  
Furniture and fixtures     5,597       5,160  
Computer Software     36,632       32,663  
Land     470       470  
Automobiles     53       56  
Onboarding     23,893       15,727  
Network transition     50,199       45,863  
Construction-in-progress     4,468       3,680  
Total owned assets     236,522       202,953  
Less: accumulated depreciation     (139,949 )     (120,761 )
  Net owned assets     96,573       82,192  
                 
Capital lease assets     40,084       38,123  
Less: accumulated depreciation     (15,363 )     (13,758 )
  Net capital lease assets     24,721       24,365  
                 
Property and equipment, net   $ 121,294     $ 106,557  

 

For the three months ended June 30, 2018 and 2017, depreciation expense was $10.8 million and $11.8 million, respectively. For the six months ended June 30, 2018 and 2017, depreciation expense was $20.6 million and $22.0 million, respectively.