Property and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

8. PROPERTY AND EQUIPMENT

The cost basis and estimated useful lives of property and equipment as of December 31, 2022 and 2021 are as follows (dollars in thousands):


	December 31,
	2022 (1)			2021 (1)			Life
Computer hardware and software	$	35,698		$	45,482		3 years
Leasehold improvements		19,824			60,520		Shorter of Life of Lease or Useful Life
Furniture, fixtures and equipment		11,417			23,633		5-10 years
Building and improvements		9,163			9,163		15-35 years
Other		22			79		5-10 years
Construction in progress		4,152			3,189
		80,276			142,066
Less-accumulated depreciation		(54,238	)		(113,711	)
Total property and equipment, net	$	26,038		$	28,355

___________________

(1)

Property and equipment which were fully depreciated and no longer in use by the Company were retired during the years ended December 31, 2022 and 2021; 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, 2022, 2021 and 2020 was $12.4 million, $12.3 million and $12.0 million, respectively.

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.