Property and Equipment |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property and Equipment | 8. PROPERTY AND EQUIPMENT The cost basis and estimated useful lives of property and equipment as of December 31, 2023 and 2022 are as follows (dollars in thousands):
___________________ (1) Property and equipment which were fully depreciated and no longer in use by the Company were retired during the years ended December 31, 2023 and 2022; therefore, both the cost of the asset and the related accumulated depreciation balances were reduced to zero for these assets. Depreciation expense for the years ended December 31, 2023, 2022 and 2021 was $9.3 million, $12.4 million and $12.3 million, respectively. During the year ended December 31, 2023, we recorded $2.1 million of asset impairments related to software assets not expected to be utilized and leasehold improvements located at lease facilities which the Company made the decision to no longer utilize. During the year ended December 31, 2022, we recorded $0.8 million of asset impairment primarily related to leasehold improvements located at lease facilities which the Company made the decision to no longer utilize. |