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Property and Equipment
 12 Months Ended
Dec. 31, 2018
Property Plant And Equipment [Abstract]  
Property and Equipment

7. PROPERTY AND EQUIPMENT

The cost basis and estimated useful lives of property and equipment as of December 31, 2018 and 2017 are as follows (dollars in thousands):

 

 

 

December 31,

 

 

 

 

 

2018

 

 

2017

 

 

Life

Computer hardware and software

 

$

105,175

 

 

$

105,244

 

 

3 years

Leasehold improvements

 

 

73,951

 

 

 

90,486

 

 

Shorter of Life of Lease

or Useful Life

Furniture, fixtures and equipment

 

 

37,362

 

 

 

40,464

 

 

5-10 years

Building and improvements

 

 

8,578

 

 

 

8,578

 

 

15-35 years

Library materials

 

 

982

 

 

 

1,522

 

 

10 years

Vehicles

 

 

107

 

 

 

464

 

 

5 years

Construction in progress

 

 

1,945

 

 

 

297

 

 

 

 

 

 

228,100

 

 

 

247,055

 

 

 

Less-accumulated depreciation

 

 

(198,052

)

 

 

(213,825

)

 

 

Total property and equipment, net

 

$

30,048

 

 

$

33,230

 

 

 

 

Depreciation expense for the years ended December 31, 2018, 2017 and 2016 was $9.4 million, $13.4 million and $21.9 million, respectively.

There were no asset impairment charges for the years ended December 31, 2018 and 2017. Property and equipment was affected by asset impairment charges of approximately $1.2 million for the year ended December 31, 2016, primarily as a result of the reduction in carrying values for campuses that were being taught out and decisions made to exit certain leased facilities. The fair value for these assets was determined based upon management’s assumptions regarding an estimated percentage of replacement value for similar assets and estimated salvage values. Because the determination of the estimated fair value of these assets requires significant estimation and assumptions, these fair value measurements are categorized as Level 3 per ASC Topic 820.