Property, Equipment and Software, Net

9 Months Ended

Sep. 30, 2021

Property, Plant and Equipment [Abstract]

Property, equipment and software, net, consist of the following:


	September 30, 2021		December 31, 2020
Internally developed software (1)	$	105,978	$	101,953
Leasehold improvements	36,053		35,140
Computer equipment	29,240		27,030
Purchased software	19,515		19,004
Furniture and fixtures	8,105		8,203
Construction in progress	4,782		2,761
Total property, equipment and software	203,673		194,091
Accumulated depreciation and amortization	(107,600)		(97,450)
Total property, equipment and software, net	$	96,073	$	96,641

(1) Includes $27.3 million and $13.9 million of development in progress as of September 30, 2021 and December 31, 2020, respectively.

Depreciation and amortization expense on property, equipment and software was $9.0 million and $29.1 million for the third quarter and first nine months of 2021, respectively. Depreciation and amortization expense on property, equipment and software was $11.4 million and $34.8 million for the third quarter and first nine months of 2020, respectively.

The Company recorded impairment expense on its leasehold improvements and furniture and fixtures of $0.4 million and $1.9 million for the third quarter and first nine months of 2020, respectively. No impairment expense was recorded in the third quarter and first nine months of 2021.

The Company recorded impairment expense on its internally developed software of $0.2 million and $0.8 million for the third quarter and first nine months of 2021, respectively. The Company recorded impairment expense on its internally developed software of $0.2 million and $4.7 million for the third quarter and first nine months of 2020, respectively.

The Company records the above expenses in “Depreciation and amortization” expense in the Condensed Consolidated Statements of Operations.