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Property and Equipment and Software and Content Development Costs
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property and Equipment and Software Development Costs
7. Property and Equipment and Software and Content Development Costs
Property and equipment
Property and equipment consisted of the following as of:
Estimated
useful life
(years)		December 31,
(dollars in thousands)20232022
Land— $9,548 $9,548 
Building3961,284 61,284 
Building improvements
7 - 20
11,720 10,874 
Equipment
1 - 5
2,646 2,312 
Computer hardware
1 - 5
50,064 47,886 
Computer software
1 - 5
21,982 20,299 
Construction in progress— 1,611 3,500 
Furniture and fixtures
2 - 7
3,187 3,264 
Leasehold improvementsLesser of lease term or estimated useful life10,345 11,822 
Total property and equipment172,387 170,789 
Less: accumulated depreciation(73,698)(63,363)
Property and equipment, net$98,689 $107,426 

Depreciation expense was $13.0 million, $14.1 million and $14.4 million for the years ended December 31, 2023, 2022 and 2021, respectively.
During the year ended December 31, 2023, we recorded noncash impairment charges of $1.1 million against certain property and equipment assets. These impairment charges resulted primarily from our entry into a sublease in July 2023 for a portion of our Washington, DC office location, which we previously closed in February 2023 to align with our remote-first workforce strategy and are reflected in general and administrative expense on the statements of comprehensive income.
During the year ended December 31, 2022, we recorded insignificant noncash impairment charges against certain property and equipment assets. These impairment charges resulted primarily from our decision to cease using a portion of our leased office space and are reflected in general and administrative expense on the statements of comprehensive income.
During the year ended December 31, 2021, we recorded noncash impairment charges of $1.7 million against certain property and equipment assets. These impairment charges resulted primarily from our decision to close our Austin office and are reflected in general and administrative expense on the statements of comprehensive income.
Software and content development costs
Software and content development costs consisted of the following as of:
Estimated
useful life
(years)		December 31,
(dollars in thousands)20232022
Software development costs
3 - 7
$287,519 $250,551 
Content development costs
5
6,945 3,409 
Less: accumulated amortization(134,270)(112,937)
Software and content development costs, net
$160,194 $141,023 
During the year ended December 31, 2022, we recorded noncash impairment charges of $2.3 million against certain previously capitalized software development costs that reduced the carrying value of those assets to zero. The impairment charges were reflected in general and administrative expense and cost of recurring revenue, respectively, on the statements of comprehensive income. These impairment charges resulted primarily from our decision to accelerate the end of customer support for certain solutions.
Other changes to the gross carrying amount of software and content development costs were primarily related to qualifying costs associated with development activities that are required to be capitalized under the internal-use software accounting guidance such as those for our cloud solutions and online education curriculum, write-offs of fully amortized assets, and the effect of foreign currency translation.
Amortization expense related to software and content development costs was $42.8 million, $36.8 million and $31.0 million for the years ended December 31, 2023, 2022 and 2021, respectively, and is included primarily in cost of recurring.