Property and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

(6) Property and Equipment

Property and equipment (in thousands) consisted of the following, as of:

	December 31,
	2024			2023
Corporate aircraft and related equipment	$	48,645		$	48,645
Computer equipment and purchased software		61,828			60,979
Furniture and equipment		9,708			9,920
Leasehold improvements		29,547			29,944
Internally developed software		9,917			9,917
Property and equipment, gross		159,645			159,405
Less: accumulated depreciation and amortization		(133,318	)		(130,464	)
Property and equipment, net	$	26,327		$	28,941

Depreciation and amortization expenses related to property and equipment were $5.6 million, $6.4 million, and $6.7 million for the years ended December 31, 2024, 2023, and 2022, respectively.

In December 2024, the Company entered into an agreement to purchase a new corporate aircraft and paid an initial deposit of $10.5 million, which is included in the “Deposits and other assets” line on the Consolidated Balance Sheet as of December 31, 2024. Additional installment payments totaling $68.0 million in the aggregate are expected through completion and delivery of the aircraft, currently anticipated in 2026.