XML 26 R13.htm IDEA: XBRL DOCUMENT v3.24.3
Property and Equipment
 9 Months Ended
Sep. 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
September 30, 2024December 31, 2023
Land and land improvements $2.7 $2.9 
Building and improvements17.5 58.8 
Data processing equipment and software45.4 50.0 
Office furniture and equipment2.2 2.6 
Total property and equipment67.8 114.3 
Less: Accumulated depreciation on property and equipment (52.6)(67.8)
Total property and equipment, net$15.2 $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.