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Property, Plant and Equipment
 12 Months Ended
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
20232022
(In thousands)(In years)
Furniture and fixtures$16,036 $16,494 
5
Computer and office equipment13,669 14,160 
2 to 5
Telecommunications equipment82,991 80,251 
5 to 7
Leasehold improvements75,437 6,410 
5 to 15
Software12,552 7,051 
3
Internal-use software development25,909 23,677 
4
Automobile507 665 
3
Land27,771 23,090 Indefinite
Land Improvements930 — 
20
Total cost255,802 171,798 
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,
202320222021
(In thousands)
Cost of revenue$16,273 $13,602 $12,606 
Research and development3,977 2,311 2,166 
Sales and marketing2,628 1,331 1,090 
General and administrative1,565 1,175 1,661 
Total depreciation expense$24,443 $18,419 $17,523