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Property and Equipment, Net | 9 Months Ended
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Sep. 30, 2024
Property, Plant and Equipment [Abstract] |
Property and Equipment, Net |
6. |  | Property and Equipment, Net
Property and equipment, net of accumulated depreciation and amortization, consisted of the following:
| Estimated Useful Life |  | As of December 31, |  | As of September 30,
|  | 2023 |  | 2024
| (in years) |  | (in millions)
Computer equipment | 3 |  | $ | 17 |  |  | $ | 18 |
Furniture and fixtures | 5 |  | 11 |  |  | 8 |
Leasehold improvements | 2-8 |  | 22 |  |  | 23 |
Capitalized internal-use software | 2-5 |  | 135 |  |  | 206 |
Total property and equipment |  |  | 185 |  |  | 255 |
Less: accumulated depreciation and amortization |  |  | (50) |  |  | (63) |
Total property and equipment, net |  |  | $ | 135 |  |  | $ | 192 |
Depreciation expense related to the Company’s property and equipment was $4 million and $2 million for the three months ended September 30, 2023 and 2024, respectively, and $10 million and $6 million for the nine months ended September 30, 2023 and 2024, respectively. Amortization expense related to the Company’s internal-use software, which is primarily recorded within cost of revenue in the condensed consolidated statements of operations, was $1 million and $7 million for the three months ended September 30, 2023 and 2024, respectively, and $3 million and $13 million for the nine months ended September 30, 2023 and 2024, respectively. During the three months ended September 30, 2023 and 2024, the Company capitalized $54 million and $25 million of internal-use software costs, inclusive of $41 million and $9 million of stock-based compensation expense, respectively. During the nine months ended September 30, 2023 and 2024, the Company capitalized $81 million and $71 million of internal-use software costs, inclusive of $41 million and $27 million of stock-based compensation expense, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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