Property and Equipment, net

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

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


	December 31,
	2023		2022
Computer equipment and software	$	28.6	$	20.7
Leasehold improvements	13.0		13.4
Furniture and equipment	4.2		3.7
	45.8		37.8
Accumulated depreciation	(28.4)		(18.2)
Property and equipment, net	$	17.4	$	19.6

Depreciation expense was $10.2 million, $6.9 million and $3.7 million for the years ended December 31, 2023, 2022 and 2021, respectively, and included in “General and administrative expenses” on the consolidated statements of operations and comprehensive loss.

The Company capitalized costs related to the development of internal-use software of $23.9 million and $16.0 million for the years ended December 31, 2023 and 2022, respectively. Capitalized amounts are included as a component of “Property and equipment” under “Computer equipment and software”.