Property, Plant, and Equipment

9 Months Ended

Sep. 30, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure

5.          Property and Equipment

Property and equipment was comprised of the following:

	Estimated Useful Lives	As of
	In Years	September 30, 2021		December 31, 2020
		(in thousands)
Computers and software	3-5	$	3,112	$	3,826
Furniture and fixtures	5-7	1,762		1,867
Leasehold improvements	3-7	1,286		417
Total property and equipment		6,160		6,110
Less: Accumulated depreciation and amortization		(4,849)		(5,815)
Net property and equipment		$	1,311	$	295

During the nine months ended September 30, 2021, the Company retired $1.1 million of computers and software and furniture and fixtures, which had been fully depreciated. During the nine months ended September 30, 2021, the Company purchased $1.2 million of assets comprised of leasehold improvements, computers and software and furniture. The leasehold improvements are being amortized over the lease term.

In 2020, the Company recorded an impairment loss of $1.6 million to reduce the carrying value of the assets comprising its campus in The Woodlands, Texas, which were sold in December 2020, to its estimated fair value, less estimated selling costs. Concurrent with the sale, the Company entered into a leaseback agreement with the purchaser with respect to a portion of the facilities for a period of up to six months and in June 2021, the Company relocated its corporate offices to another facility.