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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | 6. Property, Plant and Equipment Property, plant and equipment, net consisted of the following:
| As of December 31, |  | Useful Life
| 2023 |  | 2022 |
| (In thousands) |  | (In years)
Furniture and fixtures | $ | 16,036 |  |  | $ | 16,494 |  |  | 5
Computer and office equipment | 13,669 |  |  | 14,160 |  |  | 2 to 5
Telecommunications equipment | 82,991 |  |  | 80,251 |  |  | 5 to 7
Leasehold improvements | 75,437 |  |  | 6,410 |  |  | 5 to 15
Software | 12,552 |  |  | 7,051 |  |  | 3
Internal-use software development | 25,909 |  |  | 23,677 |  |  | 4
Automobile | 507 |  |  | 665 |  |  | 3
Land | 27,771 |  |  | 23,090 |  |  | Indefinite
Land Improvements | 930 |  |  | — |  |  | 20
Total cost | 255,802 |  |  | 171,798 |  |  |
Less—accumulated depreciation | (77,938) |  |  | (72,045) |  |  |
Total property, plant and equipment, net | $ | 177,864 |  |  | $ | 99,753 |  |  |
The Company capitalizes the costs to design software for internal use related to the development of its platform during the application development stage of the projects. The costs are primarily comprised of salaries and benefits of the projects’ engineers and product development teams. Internally developed software is reported at cost less accumulated amortization. Amortization begins once the project is substantially complete and ready for its intended use. Costs incurred prior to the application development stage, maintenance activities or minor upgrades are expensed in the period incurred. Unamortized software development costs were approximately $15.3 million and $8.4 million as of December 31, 2023 and 2022, respectively. The Company capitalized $10.6 million, $3.8 million, and $3.9 million of software development costs for the years ended December 31, 2023, 2022 and 2021, respectively. Amortization expense related to capitalized software development costs was $3.2 million, $2.2 million, and $1.8 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023, unamortized implementation costs related to cloud computing arrangements were $0.1 million, which is included in prepaid expenses and other current assets. The Company leases automobiles under leases accounted for as finance leases, which expire on various dates between 2024 and 2026. As of December 31, 2023, cost and accumulated depreciation of the assets under finance leases recorded by the Company were $0.5 million and $0.3 million, respectively. As of December 31, 2022, cost and accumulated depreciation of the assets under finance leases recorded by the Company were $0.7 million and $0.3 million, respectively. The Company recognized an impairment of $0.5 million during each of the years ended December 31, 2023, 2022 and 2021, related to capitalized software development costs that provided no future benefit and therefore were impaired. This expense is reflected within other income (expense), net as of December 31, 2023 and 2022 and cost of revenue as of December 31, 2021 in the accompanying consolidated statements of operations. The Company recognized depreciation expense, which includes amortization of capitalized software development costs, as follows:
|  |  | Year ended December 31,
|  |  |  |  | 2023 |  | 2022 |  | 2021
|  |  |  |  | (In thousands)
Cost of revenue |  |  |  |  | $ | 16,273 |  |  | $ | 13,602 |  |  | $ | 12,606 |
Research and development |  |  |  |  | 3,977 |  |  | 2,311 |  |  | 2,166 |
Sales and marketing |  |  |  |  | 2,628 |  |  | 1,331 |  |  | 1,090 |
General and administrative |  |  |  |  | 1,565 |  |  | 1,175 |  |  | 1,661 |
Total depreciation expense |  |  |  |  | $ | 24,443 |  |  | $ | 18,419 |  |  | $ | 17,523 |

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + 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://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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