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Note 9 - Fixed Assets

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

9. Fixed Assets

The following is a summary of fixed assets:

		*Useful Life (in years)*		*Cost*				*Accumulated Depreciation and Amortization*				*Net*
December 31, 2021
Furniture and office equipment		3 - 10		$	259.2			$	(219.6	)		$	39.6
Leasehold improvements		Lease term			135.7				(54.5	)			81.2
Purchased software		3			92.1				(71.1	)			21.0
Software development costs		3 - 7			1,077.4				(584.5	)			492.9
Leased equipment		3 - 4			60.5				(41.5	)			19.0
Motor vehicles and field equipment		2 - 10			6.2				(1.7	)			4.5
Total fixed assets				$	1,631.1			$	(972.9	)		$	658.2
December 31, 2020
Furniture and office equipment		3 - 10		$	273.6			$	(215.8	)		$	57.8
Leasehold improvements		Lease term			118.3				(44.7	)			73.6
Purchased software		3			77.7				(68.6	)			9.1
Software development costs		3 - 7			924.6				(465.3	)			459.3
Leased equipment		3 - 4			68.3				(41.2	)			27.1
Motor vehicles and field equipment		2 - 10			6.8				(1.4	)			5.4
Total fixed assets				$	1,469.3			$	(837.0	)		$	632.3

Depreciation and amortization of fixed assets for the years ended December 31, 2021, 2020, and 2019 were $206.9 million, $192.2 million, and $185.7 million, of which $137.5 million, $120.6 million, and $100.2 million related to amortization of internal-use software development costs, respectively. Amortization expense related to development of software for sale in accordance with ASC 985-20 was $11.7 million, $11.3 million, and $12.8 million for the years ended December 31, 2021, 2020, and 2019, respectively. We had unamortized software development costs that had been capitalized in accordance with ASC 350-40 of $433.5 million and $405.8 million as of December 31, 2021 and 2020, respectively. We had unamortized software development costs that had been capitalized in accordance with ASC 985-20 of $59.4 million and $53.5 million as of December 31, 2021 and 2020, respectively. Leased assets include amounts held under finance leases for automobiles, computer software, and computer equipment.

As of December 31, 2021, we reassessed the recoverability of long-lived assets for our Financial Services reporting unit based upon the weaker than expected operating performance as a result of changing market conditions. These conditions constituted a triggering event, which resulted in a $134.0 million impairment to the long-lived assets in our Financial Services operating segment including $45.8 million to software development costs in fixed assets. We based our analysis of the fair value of our long-lived assets on the indication of fair value provided by the offer to purchase such reporting unit, which was approved by our Board of Directors of February 16, 2022. This impairment is included within "Other operating loss (income)" in our accompanying consolidated statement of operations.