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PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2022

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

6.PROPERTY AND EQUIPMENT

The major components of property and equipment are as follows:

​

​	​	​	​	​	​	​	​
​	​	As of December 31,					​
​	​	2022		​	2021		​
Leasehold improvements	​	$	20,929	​	$	20,956	​
Equipment	​		39,238	​		41,937	​
Computer software purchased	​		11,892	​		11,792	​
Internal-use software developed:	​		​	​		​	​
Cloud-based customer solutions	​		142,980	​		114,872	​
Internal systems and tools	​		42,035	​		32,408	​
Furniture and fixtures	​		7,665	​		7,675	​
In-process internal-use software	​		32,878	​		16,965	​
Property and equipment	​		297,617	​		246,605	​
Less accumulated depreciation and amortization	​		(181,849)	​		(148,215)	​
Property and equipment, net	​	$	115,768	​	$	98,390	​

​

Depreciation expense for property and equipment, excluding all internal-use software developed and finance leases, was $6,445, $7,425 and $7,833 for the years ended December 31, 2022, 2021 and 2020, respectively. Depreciation for property and equipment, excluding internal-use software developed for cloud-based customer solutions, is reflected in depreciation and amortization in the consolidated statements of comprehensive loss.

Finance lease amortization was $1,082 and $931 for the years ended December 31, 2022 and 2021, respectively. Depreciation expense for assets held under capital leases was $743 for the year ended December 31, 2020. Finance lease amortization and depreciation expense for assets held under capital leases are included in depreciation and amortization in the consolidated statements of comprehensive loss.

Assets under finance leases of $1,461 and $1,533, net of accumulated amortization of $861 and $931, at December 31, 2022 and 2021, respectively, are included in property and equipment in the consolidated balance sheets.

The major components of internal-use software developed are as follows:

​

​	​	​	​	​	​	​
​	As of December 31,					​
​	2022		​	2021		​
Internal-use software developed	$	185,015	​	$	147,280	​
Less accumulated depreciation		(119,603)	​		(87,281)	​
Internal-use software developed, net of accumulated depreciation		65,412	​		59,999	​
In-process internal-use software		32,878	​		16,965	​
Internal-use software developed, net	$	98,290	​	$	76,964	​

​

Amounts included in property and equipment additions related to capitalized internal-use software on the consolidated statements of cash flows are as follows:

​

​	​	​	​	​	​	​	​	​	​
​	​	For the year ended December 31,
​	​	2022		​	2021		​	2020
Cloud-based customer solutions		$	28,918		$	19,837		$	14,710
Internal systems and tools	​		26,354	​		11,491	​		3,176
Total	​	$	55,272	​	$	31,328	​	$	17,886

​

In-process internal-use software developed is not depreciated until it is available for its intended use. Depreciation expense for internal-use software developed for cloud-based customer solutions for the years ended December 31, 2022, 2021 and 2020, was $27,682, $19,076 and $8,818, respectively, and is included in cost of revenues, software subscriptions in the consolidated statements of comprehensive loss. Developed technology with an acquisition date fair value of $40,746 was recorded in connection with the Taxamo acquisition and is reflected in property and equipment, net, in the consolidated balance sheets at December 31, 2022 and 2021. Depreciation expense for the years ended December 31, 2022 and 2021 associated with this developed technology was $11,770 and $8,123, respectively, and is reflected in cost of revenues - software subscriptions in the consolidated statement of comprehensive loss.

Depreciation expense for internal-use software developed for internal systems and tools for the years ended December 31, 2022, 2021 and 2020 was $4,913, $3,322 and $2,442, respectively, and is included in depreciation and amortization in the consolidated statements of comprehensive loss.

Amortization expense of internal-use software developed, excluding in-process internal-use software not yet available for its intended use, at December 31, 2022 is as follows for all future years:

​

​	​	​	​	​	​	​
Year Ending December 31,		Internal Systems and Tools			Cloud-Based Customer Solutions
2023	​	$	6,040	​	​	29,200
2024	​		5,197	​	​	16,930
2025	​		3,003	​	​	4,920
2026	​		122	​	​	—
2027	​		—	​	​	—
Total	​	$	14,362	​	$	51,050

​

X

- References

No definition available.

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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 http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://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 http://asc.fasb.org/extlink&oid=120429125&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 http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916

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