Property and Equipment

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 4 — Property and Equipment

Property and equipment consist of the following:

	As of December 31,
	2022		2021
	(in thousands)
Equipment	$	9,961	$	11,992
Furniture and fixtures	5,996		6,526
Leasehold improvements	26,723		24,469
Total property and equipment, gross	42,680		42,987
Less: accumulated depreciation and amortization	(15,640)		(20,068)
Total property and equipment, net	$	27,040	$	22,919

In 2022, the Company incurred costs for leasehold improvements and other equipment related to its new London office, and also disposed of leasehold improvements and certain other fixed assets related to its former London office, most of which was fully depreciated. The impact of each resulted in reductions of gross property and equipment and accumulated depreciation.