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PROPERTY AND EQUIPMENT, NET | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT, NET | PROPERTY AND EQUIPMENT, NET Property and equipment, net consists of the following:
|  | December 31,
|  | 2023 |  | 2022
Furniture and equipment |  | $ | 91,061 |  |  | $ | 93,818 |
Computer software |  | 6,759 |  |  | 6,837 |
Software development |  | 165,119 |  |  | 147,424 |
Leasehold improvements |  | 29,180 |  |  | 29,150 |
Work in progress |  | 13,042 |  |  | 12,929 |
Property and equipment |  | 305,161 |  |  | 290,158 |
Accumulated depreciation and amortization |  | (234,352) |  |  | (197,269) |
Property and equipment, net |  | $ | 70,809 |  |  | $ | 92,889 |
The Company recorded $41.3 million, $42.0 million and $35.0 million of depreciation and amortization expense related to property and equipment for the years ended December 31, 2023, 2022 and 2021, respectively. During the years ended December 31, 2023, 2022 and 2021 charges of $1.4 million, $12.6 million and zero, respectively, were recorded for losses on fixed assets due to branch consolidation efforts. These charges are included in general and administrative expenses on the consolidated statements of operations. Capitalized computer software development costs consist of the following:
|  | December 31,
|  | 2023 |  | 2022
Cost |  | $ | 165,119 |  |  | $ | 147,424 |
Accumulated amortization |  | (122,861) |  |  | (95,777) |
Software development, net |  | $ | 42,258 |  |  | $ | 51,647 |
The Company recorded $27.7 million, $20.4 million and $11.5 million of amortization expense related to software development for the years ended December 31, 2023, 2022 and 2021, respectively. Future computer software development amortization for the remaining years:
Year ending December 31, |
2024 | $ | 25,615 |
2025 | 13,990 |
2026 | 2,653 |
Total | $ | 42,258 |

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- Definition The entire disclosure for intangible assets and long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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