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Property and Equipment
 3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
Property and equipment consisted of the following:
As of March 31, 2023As of December 31, 2022
(In thousands)
Capitalized internal-use software developments costs$269,463 $257,983 
Data center equipment (1)
101,178 100,207 
Leasehold improvements92,475 91,660 
Office equipment71,344 70,815 
Furniture and fixtures14,913 14,935 
Software14,832 14,675 
Total property and equipment564,205 550,275 
Less: accumulated depreciation and amortization (1)
(310,143)(286,296)
Total property and equipment, net$254,062 $263,979 
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(1) Data center equipment contains $72.4 million in assets held under finance leases as of March 31, 2023, and December 31, 2022. Accumulated depreciation and amortization includes $45.0 million and $41.2 million of accumulated depreciation for assets held under finance leases as of March 31, 2023, and December 31, 2022, respectively.
Depreciation and amortization expense was $20.1 million and $16.6 million in the three months ended March 31, 2023 and 2022, respectively.
The Company capitalized $14.2 million and $14.7 million in internal‑use software development costs in the three months ended March 31, 2023 and 2022, respectively.
In the three months ended March 31, 2023, the Company signed an agreement to divest its Internet of Things (“IoT”) assets and liabilities to a third party. The Company recorded a $3.8 million loss on net assets held for sale related to this transaction and an additional $2.2 million of related costs. The assets and liabilities held for sale are not significant.