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Property and Equipment | 6 Months Ended
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Jun. 30, 2024
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment Disclosure | PROPERTY AND EQUIPMENT Property and equipment consists of the following:
(In millions) | As of
| June 30, 2024 |  | December 31, 2023
Land and land improvements | $ | 2.7 |  |  | $ | 2.9 |
Building and improvements | 17.2 |  |  | 58.8 |
Data processing equipment and software | 45.8 |  |  | 50.0 |
Office furniture and equipment | 2.5 |  |  | 2.6 |
Total property and equipment | 68.2 |  |  | 114.3 |
Less: Accumulated depreciation on property and equipment | (52.1) |  |  | (67.8) |
Total property and equipment, net | $ | 16.1 |  |  | $ | 46.5 |
As the vast majority of our team members now work remotely, we had significant excess space in the two office buildings that we owned in Southfield, Michigan. During the second quarter of 2024, we sold the larger building for net sales proceeds of $3.2 million, and recognized a loss on sale of the building of $23.7 million. The loss on sale of the building represented the amount by which the $26.9 million carrying value of the building and its improvements, the related land and land improvements, and office furniture and equipment exceeded the net sales proceeds of $3.2 million.

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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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