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Property and Equipment, Net
 12 Months Ended
Dec. 31, 2021
Property Plant And Equipment [Abstract]  
Property and Equipment, Net

Note 4—Property and Equipment, Net

Major classes of property and equipment were as follows (in thousands):

 

 

 

As of December 31,

 

 

 

2021

 

 

2020

 

Computer equipment

 

$

53,587

 

 

$

28,528

 

Purchased software

 

 

10,179

 

 

 

10,179

 

Furniture and fixtures

 

 

22,156

 

 

 

17,971

 

Construction in progress (1)

 

 

6,810

 

 

 

13,862

 

Leasehold improvements

 

 

112,014

 

 

 

87,803

 

 

 

 

204,746

 

 

 

158,343

 

Less: Accumulated depreciation

 

 

(68,890

)

 

 

(42,480

)

 

 

$

135,856

 

 

$

115,863

 

      ______________

 

(1)

Includes leasehold improvement projects which are not yet ready for intended use.

Depreciation expense for 2021, 2020 and 2019 was $34.2 million, $21.2 million and $14.9 million, respectively. For the years ended December 31, 2021, 2020 and 2019 there were no impairment charges to property and equipment.