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Property and Equipment and Software and Content Development Costs
 12 Months Ended
Dec. 31, 2024
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)20242023
Land— $9,548 $9,548 
Building3961,284 61,284 
Building improvements
4 - 20
12,112 11,720 
Equipment
1 - 5
2,448 2,646 
Computer hardware
1 - 5
36,632 50,064 
Computer software
1 - 5
20,455 21,982 
Construction in progress— — 1,611 
Furniture and fixtures
1 - 7
4,849 3,187 
Leasehold improvementsLesser of lease term or estimated useful life10,206 10,345 
Total property and equipment157,534 172,387 
Less: accumulated depreciation(65,608)(73,698)
Property and equipment, net$91,926 $98,689 

Depreciation expense was $12.8 million, $13.0 million and $14.1 million for the years ended December 31, 2024, 2023 and 2022, respectively.
During the years ended December 31, 2024 and 2022, we recorded insignificant noncash impairment charges against certain property and equipment assets. During the year ended December 31, 2023, we recorded noncash impairment charges of $1.1 million against certain property and equipment assets. Each of these impairment charges resulted from our entry into subleases for different portions of our Washington, DC office location, which we closed in February 2023 to align with our remote-first workforce strategy. These charges are included in general and administrative expense on our consolidated statements of comprehensive loss.
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)20242023
Software development costs
3 - 7
$268,510 $287,519 
Content development costs
5
— 6,945 
Less: accumulated amortization(120,191)(134,270)
Software and content development costs, net
$148,319 $160,194 
During the year ended December 31, 2024, we recorded noncash impairment charges of $22.6 million against certain previously capitalized software and content development costs. The impairment charges are included in EVERFI impairment charges within EVERFI disposition on our consolidated statements of comprehensive loss. For additional information, see the discussion of the EVERFI impairment charges in Note 4 to these consolidated financial statements.
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 on the statements of comprehensive loss. 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 $48.3 million, $42.8 million and $36.8 million for the years ended December 31, 2024, 2023 and 2022, respectively, and is included primarily in cost of recurring.