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PROPERTY AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2023
PROPERTY AND EQUIPMENT, NET  
PROPERTY AND EQUIPMENT, NET

7.  PROPERTY AND EQUIPMENT, NET

Property and equipment, net consisted of the following as of December 31, 2023 and 2022 (in millions):

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​

​

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December 31, 

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December 31, 

 

​

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2023

    

2022

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Construction in progress

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$

1.5

​

$

7.7

​

Building

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​

—

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​

68.8

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Furniture and equipment

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322.9

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291.3

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Total property and equipment

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324.4

​

 

367.8

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Less accumulated depreciation

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(215.2)

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(259.6)

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Property and equipment, net

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$

109.2

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$

108.2

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​

Depreciation expense using the straight-line method was $33.0 million, $35.3 million and $33.5 million for the years ended December 31, 2023, 2022 and 2021, respectively.

The Company’s former headquarters location was originally classified as held for sale on May 1, 2019, but was returned to held and used on May 1, 2021 due to the time elapsed since active marketing for the sale of the building commenced. The Company continued discussions with potential buyers. Effective July 27, 2023, the Company entered into an agreement to sell its former headquarters building, subject to customary closing conditions. The Company classified the associated land, building, and certain furniture and equipment of the former headquarters location as held for sale, performed an impairment assessment, and ceased depreciation effective August 1, 2023. Negotiations are ongoing and the Company expects to complete the sale in the first half of 2024. In connection with the sale, the Company anticipates providing seller financing to the purchaser in the form of a promissory note for a portion of the purchase price of the former headquarters. As of December 31, 2023, the total value of the property held for sale on the consolidated balance sheet was $8.7 million.