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Fixed Assets | 12 Months Ended
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Dec. 31, 2025
Property, Plant and Equipment [Abstract] |
Fixed Assets | PROPERTY AND EQUIPMENT, NET The components of property and equipment, net were as follows at December 31, 2025 (in thousands):
| Historical Cost | Accumulated Depreciation and Amortization | Net Carrying Value
Internally developed software | $ | 2,053,301 |  | $ | (1,163,845) |  | $ | 889,456 |
Computers and software | 612,222 |  | (423,455) |  | 188,767 |
Buildings | 106,450 |  | (25,192) |  | 81,258 |
Leasehold improvements | 118,011 |  | (67,086) |  | 50,925 |
Furniture and equipment | 104,040 |  | (86,047) |  | 17,993 |
Land | 9,978 |  | — |  | 9,978 |
Work in progress(1) | 170,999 |  | — |  | 170,999 |
Total property and equipment, net | $ | 3,175,001 |  | $ | (1,765,625) |  | $ | 1,409,376 |
____________________ (1) Work in progress includes $110.6 million of internal software in development and related hardware and software at December 31, 2025. The components of property and equipment, net were as follows at December 31, 2024 (in thousands):
| Historical Cost | Accumulated Depreciation and Amortization | Net Carrying Value
Internally developed software | $ | 1,628,889 |  | $ | (871,226) |  | $ | 757,663 |
Computers and software | 519,209 |  | (339,553) |  | 179,656 |
Buildings | 107,873 |  | (23,254) |  | 84,619 |
Leasehold improvements | 107,359 |  | (61,142) |  | 46,217 |
Furniture and equipment | 100,399 |  | (89,084) |  | 11,315 |
Land | 4,678 |  | — |  | 4,678 |
Work in progress(1) | 125,879 |  | — |  | 125,879 |
Total property and equipment, net | $ | 2,594,286 |  | $ | (1,384,259) |  | $ | 1,210,027 |
____________________ (1) Work in progress includes $102.4 million of internal software in development and related hardware and software at December 31, 2024. Depreciation and amortization was $393.4 million, $308.5 million and $247.0 million for the years ended December 31, 2025, 2024 and 2023, respectively.

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