Property and Equipment, Net

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Property and equipment, net consist of the following:


	March 31, 2023		December 31, 2022
Land	$	2,811	$	2,811
Building and improvements	36,216		35,717
Computer equipment and software	56,828		54,636
Furniture, fixtures, and equipment	14,456		14,600
Aircraft	2,038		2,038
Other	156		156
Property and equipment, at cost	112,505		109,958
Less: Accumulated depreciation	(79,467)		(77,707)
Total property and equipment, net	$	33,038	$	32,251

Depreciation expense for the three months ended March 31, 2023 and 2022 was $2,724 and $2,490, respectively.

Related Party Equipment Sale

In January 2022, the Audit Committee of the Company’s Board of Directors authorized the Company to sell 50% of its interest in the Company’s aircraft at fair market value to an entity controlled by the Company’s Chief Executive Officer. The transaction was completed on February 1, 2022 for $2,380 and resulted in a gain of $2,029, which was recorded in Other income, net in the consolidated statements of operations for the three months ended March 31, 2022. Subsequent to the transaction, ongoing operating and fixed costs of the aircraft are shared on a proportional use basis subject to a cost-sharing agreement. Such costs were not material during the three months ended March 31, 2023 and 2022. The Company determined this transaction was with a related party.