Property and Equipment

9 Months Ended

Sep. 30, 2022

Property Plant And Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment and accumulated depreciation and amortization were as follows:


	September 30, 2022			December 31, 2021
Property and equipment
Software and capitalized software costs	$	252,787		$	199,470
Buildings		177,550			172,807
Computer equipment		123,068			102,509
Rental clocks		34,302			30,313
Furniture, fixtures and equipment		28,160			24,971
Other		16,905			16,397
		632,772			546,467
Less: accumulated depreciation and amortization		(307,400	)		(242,652	)
		325,372			303,815
Construction in progress		24,692			11,342
Land		33,796			33,796
Property and equipment, net	$	383,860		$	348,953

We capitalize computer software development costs related to software developed for internal use in accordance with ASC 350-40. For the three and nine months ended September 30, 2022, we capitalized $17.0 million and $48.8 million, respectively, of computer software development costs related to software developed for internal use. For the three and nine months ended September 30, 2021, we capitalized $13.2 million and $39.2 million, respectively, of computer software development costs related to software developed for internal use.

Rental clocks included in property and equipment, net represent time clocks issued to clients under month-to-month operating leases. As such, these items are transferred from inventory to property and equipment and depreciated over their estimated useful lives.

We capitalize interest incurred for indebtedness related to construction in progress. For the three and nine months ended September 30, 2022, we incurred interest costs of $1.2 million and $2.1 million, respectively, of which we capitalized $0.2 million and

$0.5 million, respectively. For the three and nine months ended September 30, 2021, we incurred interest costs of $0.4 million and $1.1 million, respectively, of which we capitalized $0.4 million and $1.1 million, respectively. Included in the construction in progress balance at September 30, 2022 and December 31, 2021 is $1.0 million and $0.1 million in retainage, respectively.

Depreciation and amortization expense for property and equipment was $22.5 million and $64.7 million, respectively, for the three and nine months ended September 30, 2022. Depreciation and amortization expense for property and equipment was $16.3 million and $46.8 million, respectively, for the three and nine months ended September 30, 2021.