Property and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment consisted of the following:

		As of December 31,
	Useful Life	2023		2024
		(in thousands)
Land	—	$	8,268	$	3,161
Building and building improvements	15 - 39 years	40,109		16,715
Leasehold improvements	up to 20 years	42,924		49,828
Office equipment	5 years	1,492		1,879
Computer equipment	3 - 5 years	27,493		25,265
Furniture and fixtures	5 - 7 years	18,493		19,751
Other capital assets	5 years	81		81
Software development	3 - 5 years	72,149		74,173
Program development	3 years	12,236		14,854
		223,245		205,707
Less: accumulated depreciation and amortization		(135,742)		(132,324)
		$	87,503	$	73,383

The Company disposed of long-lived assets resulting in a loss of $1.2 million, $0.6 million, and $0.4 million during the years ended December 31, 2022, 2023, and 2024, respectively. The disposals and losses were primarily related to assets no longer in use. The losses on long-lived assets are included as loss on disposals of long-lived assets in these Consolidated Financial Statements.

For the years ended December 31, 2022, and 2023, the APUS Segment sold certain excess real property and equipment located in Charles Town, West Virginia, for a net sales price of $0.8 million, and $0.1 million, respectively, resulting in a loss on disposals of long-lived assets of $0.4 million, and $0.1 million, respectively. The loss is included in loss on disposals of long-lived assets in these Consolidated Financial Statements.

During the years ended December 31, 2022, 2023, and 2024, the Company recorded depreciation expense of $16.2 million, $15.6 million and $16.0 million, respectively.