Property and Equipment, Net

6 Months Ended

Jun. 30, 2023

Property, Plant and Equipment [Abstract]

Property and equipment, net consist of the following:


	June 30, 2023		December 31, 2022
Land	$	2,811	$	2,811
Building and improvements	35,941		35,717
Computer equipment and software	61,452		54,636
Furniture, fixtures, and equipment	14,918		14,600
Aircraft	2,038		2,038
Other	151		156
Property and equipment, at cost	117,311		109,958
Less: Accumulated depreciation	(81,791)		(77,707)
Total property and equipment, net	$	35,520	$	32,251

Depreciation expense was $2,910 and $2,922 for the three months ended June 30, 2023 and 2022, respectively, and $5,634 and $5,412 for the six months ended June 30, 2023 and 2022, respectively.

Related Party Equipment Sale

In January 2022, the Audit Committee of the Company’s Board of Directors authorized the Company to sell 50% of its interest in the Company’s aircraft at fair market value to an entity controlled by the Company’s Chief Executive Officer. The transaction was completed on February 1, 2022 for $2,380 and resulted in a gain of $2,029, which was recorded in Other income, net in the consolidated statements of operations for the six months ended June 30, 2022 (see Note 20). Subsequent to the transaction, ongoing operating and fixed costs of the aircraft are shared on a proportional use basis subject to a cost-sharing agreement. Such costs were not material during the six months ended June 30, 2023 and 2022. The Company determined this transaction was with a related party.