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v3.22.2.2

Property and Equipment, net | 12 Months Ended
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Sep. 30, 2022
Property, Plant and Equipment, Net [Abstract] |
Property and Equipment, net | Property and Equipment, net Property and equipment is stated at cost, and reported net of accumulated depreciation and amortization on the Consolidated Balance Sheets. Depreciation on property and equipment is generally calculated using the straight-line method over the relevant asset’s estimated useful life. The estimated useful lives of property and equipment range from 3 to 10 years. During the years ended September 30, 2022, 2021, and 2020, depreciation expense was $30.0 million, $21.3 million, and $13.3 million respectively. The Company capitalized $24.8 million and $22.3 million of software development costs during the years ended September 30, 2022 and September 30, 2021. The Company recorded impairment charges of $5.7 million, which are reflected in Bad debts, net of recoveries and impairment on the Consolidated Income Statement for the year ended September 30, 2020. A summary of property and equipment, at cost less accumulated depreciation and amortization as of September 30, 2022 and 2021 is as follows:
| September 30,
(in millions) | 2022 |  | 2021
Property and equipment: |  |  |
Furniture and fixtures | $ | 16.0 |  |  | $ | 15.0 |
Software | 34.4 |  |  | 30.0 |
Equipment | 45.3 |  |  | 44.1 |
Leasehold improvements | 43.3 |  |  | 43.9 |
Capitalized software development | 47.1 |  |  | 22.3 |
Total property and equipment | 186.1 |  |  | 155.3 |
Less: accumulated depreciation and amortization | (73.2) |  |  | (62.0) |
Property and equipment, net | $ | 112.9 |  |  | $ | 93.3 |

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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