Silvercrest Asset Management Group LLC Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Furniture, Equipment and Leasehold Improvements, Net

Furniture, Equipment and Leasehold Improvements, Net

9 Months Ended

Sep. 30, 2021

Property Plant And Equipment [Abstract]

Furniture, Equipment and Leasehold Improvements, Net

6. FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

The following is a summary of furniture, equipment and leasehold improvements, net as of September 30, 2021 and December 31, 2020:

	September 30, 2021			December 31, 2020
Leasehold improvements	$	7,859		$	7,936
Furniture and equipment		7,979			7,275
Artwork		505			502
Total cost		16,343			15,713
Accumulated depreciation and amortization		(11,071	)		(10,190	)
Furniture, equipment and leasehold improvements, net	$	5,272		$	5,523

Depreciation expense for the three months ended September 30, 2021 and 2020 was $294 and $279, respectively. Depreciation expense for the nine months ended September 30, 2021 and 2020 was $881 and $838, respectively.

During the three and nine months ended September 30, 2021, the Company wrote off leased assets of $38 and $120, with accumulated depreciation of $31 and $95, respectively. During the nine months ended September 30, 2020, the Company wrote off leased assets of $209, with accumulated depreciation of $180.