Annual report pursuant to Section 13 and 15(d)

Property and equipment

v3.5.0.2
Property and equipment
12 Months Ended
Sep. 30, 2016
Property, Plant and Equipment [Abstract]  
Property and equipment
Property and equipment
Property and equipment, at cost, consists of the following (in thousands):
 
As of September 30,
 
2016
 
2015
Land
$
1,738

 
$
1,738

Building and improvements
11,726

 
11,716

Office furniture and equipment
261,752

 
245,577

Leasehold improvements
52,493

 
39,569

 
327,709

 
298,600

Less: Accumulated depreciation and amortization
(196,140
)
 
(160,770
)
Total property and equipment, net
$
131,569

 
$
137,830


Depreciation expense for the years ended September 30, 2016, 2015 and 2014 was $49.2 million, $37.0 million and $32.9 million, respectively.