Property and Equipment, Net Property and Equipment, Net

12 Months Ended

Dec. 31, 2018

Property, Plant and Equipment [Abstract]

8. Property and Equipment, Net

The composition of property and equipment, net, and the corresponding ranges of estimated useful lives were as follows:



	Successor			Predecessor
	December 31, 2018			December 31, 2017			Estimated Useful Life
Furniture, fixtures, and equipment	$	32		$	57		3 - 5 years
Capitalized software costs	24			152			3 - 5 years
Software in development and other	24			12
Leasehold improvements	22			19			3 - 5 years
Long-term capital leases - computer equipment	10			50			5 years
Property and equipment	112			290
Less: Accumulated depreciation	(16		)	(169		)
Total property and equipment, net	$	96		$	121

The Company recorded depreciation expense on property and equipment of $16 for the five months ended December 31, 2018. The Predecessor recorded depreciation expense on property and equipment of $31, $54 and $56 for the seven months ended July 31, 2018 and years ended December 31, 2017, and 2016, respectively. The Company and Predecessor have entered into various lease agreements for computer equipment which are classified as capital leases. All of the capital leases expire over the next year. A majority of these lease agreements contain bargain purchase options.

No impairment losses related to property and equipment were recorded by the Predecessor and Company during the seven months ended July 31, 2018 and the five months ended December 31, 2018, respectively. During the year ended December 31, 2017, the Predecessor recorded a total of $3 impairment charges for hardware and software that were no longer in use. The impairment charges were included in the general and administrative expenses in the consolidated statements of operations. During the year ended December 31, 2016, the Predecessor recorded a total of $11 impairment charges for assets that were no longer in use, including $10 primarily related to software and hardware and $1 due to retirement of Predecessor’s old website upon launch of Predecessor’s new website.