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Property and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property and Equipment | Note 10—Property and Equipment Property and equipment consisted of the following as of the dates indicated (in thousands):
|  |  | As of December 31,
| Estimated useful lives |  | 2023 |  | 2022
Computer equipment | 3 years |  | $ | 15,534 |  |  | $ | 12,820 |
Furniture and equipment | 2 - 4 years |  | 14,011 |  |  | 11,398 |
Leasehold improvements | Shorter of life of asset or lease term |  | 62,220 |  |  | 56,095 |
Construction in progress | Not applicable |  | — |  |  | 419 |
Building | Lease term |  | 133,063 |  |  | 133,063 |
Website development and internal-use software | 3 - 5 years |  | 269,018 |  |  | 240,138 |
|  |  | 493,846 |  |  | 453,933 |
Less: Accumulated depreciation and amortization |  |  | 244,052 |  |  | 204,189 |
|  |  | $ | 249,794 |  |  | $ | 249,744 |
Depreciation and amortization expense on property and equipment was $51.6 million, $55.5 million, and $45.8 million, which included amortization expense relating to capitalized website development and internal-use software of $34.3 million, $37.3 million, and $30.0 million, for the years ended December 31, 2023, 2022, and 2021, respectively. During the second quarter of 2023, the Company concluded that the book value of the long-lived assets for the Elo7 reporting units were fully impaired, and recorded an impairment charge of $7.9 million in Asset Impairment charges in the Consolidated Statement of Operations, which primarily related to developed technology. The impairment charge was the result of macroeconomic conditions at the time, challenges applying the Company’s technological, marketing, and operational expertise to help scale Elo7’s business, and the resultant headwinds to the business, which caused the Company to revise its business forecasts for Elo7 downwards. The Company prepared an updated fair value for the Elo7 reporting unit based on a quantitative assessment, which included estimates of future revenue, and the net available cash flows; as well as a determination that the Company would more likely than not use the Elo7 asset group for a period of less than twelve months. The Company completed the sale of Elo7 in the third quarter of 2023. Refer to “Note 6—Sale of Business” for further details. In the third quarter of 2022, the developed technology asset acquired as part of the Reverb acquisition, and as recorded in capitalized website development and internal-use software, was fully amortized.

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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//1943274/2147480321/958-360-50-6 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//1943274/2147480321/958-360-50-1 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//1943274/2147480321/958-360-50-7 + Details
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