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PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT, NET PROPERTY AND EQUIPMENT, NET
Property and equipment, net consisted of the following as of December 31, 2024 and 2023 (in millions):
December 31,
2024		December 31,
2023
Construction in progress$3.3 $1.5 
Furniture, equipment, and leasehold improvements306.3 322.9 
Total property and equipment309.6 324.4 
Less accumulated depreciation(191.6)(215.2)
Property and equipment, net$118.0 $109.2 
Depreciation expense using the straight-line method was $34.0 million, $33.0 million and $35.3 million for the years ended December 31, 2024, 2023, and 2022, respectively.
The sale of the Company’s former headquarters, including the associated land, building, and certain furniture and equipment of the former headquarters location (the "Property”), was completed on June 28, 2024. In connection with the sale, the Company provided seller financing to the purchaser of the Property (the "Purchaser”) in the form of a secured promissory note for a portion of the purchase price of the Property. The total purchase price of the Property was $12.0 million and was comprised of $5.0 million cash and $7.0 million of seller financing. On June 30, 2024, the Company recognized a gain on the sale of property held for sale of $1.0 million representing the difference between the property held for sale balance and the net present value of the consideration on the date of disposal of the Property, less expenses incurred.
The $7.0 million in seller financing is in the form of a secured promissory note receivable to be repaid with an interest rate of 4.0% per annum, payable quarterly in arrears. The loan principal shall be repaid to the Company upon the earlier of the following: (a) the second anniversary of the closing date of the sale of the Property or (b) the closing of a sale of the Property by the Purchaser to a third party who is not related to the Purchaser. The Company accrues interest income monthly based on the agreed upon principal amount and interest rate.