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PROPERTY, EQUIPMENT AND SOFTWARE, NET | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY, EQUIPMENT AND SOFTWARE, NET | PROPERTY, EQUIPMENT AND SOFTWARE, NET The following summarizes property, equipment and software, net as of December 31, 2023 and 2022 (in thousands):
| December 31,
| 2023 |  | 2022
Furniture and fixtures and other | 571 |  |  | 3,384 |
Leasehold improvements | 19,167 |  |  | 18,428 |
Computer hardware and purchased software | 5,741 |  |  | 110,338 |
Internally-developed software (1) | 295,860 |  |  | 334,079 |
Total property, equipment and software, gross | 321,339 |  |  | 466,229 |
Less: accumulated depreciation and amortization | (290,809) |  |  | (409,498) |
Property, equipment and software, net | $ | 30,530 |  |  | $ | 56,731 |
(1)The net carrying amount of internally-developed software was $28.4 million and $48.6 million as of December 31, 2023 and 2022. We performed an assessment in the first, second, third and fourth quarters of 2023 and did not identify a triggering event that would have required us to test for impairment for such periods. During the first quarter of 2022, we determined the impact to our business from the new variant of COVID-19 required us to evaluate our long-lived assets for impairment. Our interim quantitative assessment for the first quarter of 2022 did not identify any long-lived asset impairment. During the second quarter of 2022, we determined a downward revision of our forecast required us to evaluate our long-lived assets for impairment. As a result of our interim quantitative assessment, we recognized long-lived asset impairment related to certain asset groups within our International reporting unit. See details in the table below. During the fourth quarter of 2022, we determined a further downward revision of our forecast required us to evaluate our long-lived assets for impairment. As a result of our interim quantitative assessment, we recognized long-lived asset impairment related to certain asset groups within our International reporting unit. Additionally, during the fourth quarter of 2022, we determined that certain internally developed software was no longer in use. As a result, we recognized long-lived asset impairment related to internally developed software. See details in the table below. During the third quarter of 2021, we recognized long-lived asset impairments for certain leasehold improvements under our 2020 Restructuring Plan. See details in the table below and Note 13, Restructuring and Related Charges, for more information. In order to evaluate long-lived assets for impairment in 2022 and 2021, we compared the fair value our asset groups to their carrying value. In determining the fair values of our asset groups, we used the discounted cash flow method under the income approach that uses Level 3 inputs. The significant estimates used in the discounted cash flow models are the risk-adjusted discount rates; forecasted revenue, cost of revenue and operating expenses; forecasted capital expenditures and working capital needs; weighted-average cost of capital; rates of long-term growth; and income tax rates. The following table summarizes impairment charges for property, equipment and software that are presented within Restructuring and related charges and Long-lived asset impairment on the Consolidated Statements of Operations for the years ended December 31, 2023, 2022 and 2021 (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Long-lived asset impairment: |  |  |  |  |
North America | $ | — |  |  | $ | 753 |  |  | $ | — |
International | — |  |  | 3,736 |  |  | — |
Long-lived asset impairment | — |  |  | 4,489 |  |  | — |
Restructuring and related charges: |  |  |  |  |
North America | — |  |  | — |  |  | 602 |
International | — |  |  | — |  |  | 268 |
Restructuring and related charges impairment | — |  |  | — |  |  | 870 |
Total property, equipment and software impairment | $ | — |  |  | $ | 4,489 |  |  | $ | 870 |
The following table summarizes impairment for long-lived assets by asset type for the years ended December 31, 2023, 2022 and 2021 (in thousands):
| Year Ended December 31,
Long-Lived Asset Category | 2023 |  | 2022 |  | 2021
Property, equipment and software, net |  |  |  |  |
Leasehold improvements | — |  |  | 1,747 |  |  | 870 |
Computer hardware | — |  |  | 1,498 |  |  | — |
Internally-developed software | — |  |  | 753 |  |  | — |
Other Property, equipment and software, net | — |  |  | 491 |  |  | — |
Total | $ | — |  |  | $ | 4,489 |  |  | $ | 870 |
Depreciation and amortization expense on property, equipment and software is classified as follows in the accompanying Consolidated Statements of Operations for the years ended December 31, 2023, 2022 and 2021 (in thousands):
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Service cost of revenue | $ | 25,024 |  |  | $ | 32,554 |  |  | $ | 32,354 |
Product cost of revenue | — |  |  | — |  |  | 378 |
Selling, general and administrative | 18,377 |  |  | 21,616 |  |  | 31,193 |
Total | $ | 43,401 |  |  | $ | 54,170 |  |  | $ | 63,925 |
The above amounts include amortization of internally-developed software of $38.1 million, $44.2 million and $50.5 million for the years ended December 31, 2023, 2022 and 2021.

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