Property and Equipment

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property and equipment, net consists of the following (in thousands): 

	June 30, 2022		December 31, 2021
Leasehold improvements	$	61,219	$	79,661
Capitalized internal-use software	61,013		58,135
Computer equipment and licensed software and patents	42,447		41,512
Furniture and fixtures	11,595		14,627
Construction in progress	19,458		20,927
Total	195,732		214,862
Less: accumulated depreciation and amortization	(104,777)		(117,047)
Property and equipment, net	$	90,955	$	97,815

Depreciation expense was $5 million and $6 million for the three months ended June 30, 2022 and 2021, respectively, and $11 million and $12 million for the six months ended June 30, 2022 and 2021, respectively.

Amortization expense of capitalized internal-use software was $2 million for each of the three months ended June 30, 2022 and 2021 and $4 million for each of the six months ended June 30, 2022 and 2021. The carrying values of capitalized internal-use software as of June 30, 2022 and December 31, 2021 were $42 million and $40 million, respectively, including $19 million and $15 million in construction in progress, respectively. These balances included $9 million and $7 million, respectively, of implementation costs incurred in hosting arrangements that are service contracts, all of which is included in construction in progress.