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Property, Plant and Equipment | 3 Months Ended
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Mar. 31, 2024
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 March 31, |  | As of December 31, |  |
| 2024 |  | 2023 |
| (In thousands) |  |
Furniture and fixtures | $ | 16,018 |  |  | $ | 16,036 |  |  |
Computer and office equipment | 13,694 |  |  | 13,669 |  |  |
Telecommunications equipment | 82,515 |  |  | 82,991 |  |  |
Leasehold improvements | 75,596 |  |  | 75,437 |  |  |
Software | 13,162 |  |  | 12,552 |  |  |
Internal-use software development | 29,272 |  |  | 25,909 |  |  |
Automobile | 463 |  |  | 507 |  |  |
Land | 27,636 |  |  | 27,771 |  |  |
Land Improvements | 1,065 |  |  | 930 |  |  |
Total cost | 259,421 |  |  | 255,802 |  |  |
Less—accumulated depreciation | (85,597) |  |  | (77,938) |  |  |
Total property, plant and equipment, net | $ | 173,824 |  |  | $ | 177,864 |  |  |
The Company capitalized $3.6 million and $1.7 million of software development costs for the three months ended March 31, 2024 and 2023, respectively. Amortization expense related to capitalized software development costs were $1.0 million and $0.7 million for the three months ended March 31, 2024 and 2023, respectively. The Company recognized depreciation expense, which includes amortization of capitalized software development costs, as follows:
|  |  | Three months ended March 31,
|  |  |  |  | 2024 |  | 2023 |  |
|  |  |  |  | (In thousands)
Cost of revenue |  |  |  |  | $ | 4,778 |  |  | $ | 3,529 |  |  |
Research and development |  |  |  |  | 1,598 |  |  | 512 |  |  |
Sales and marketing |  |  |  |  | 1,136 |  |  | 309 |  |  |
General and administrative |  |  |  |  | 541 |  |  | 270 |  |  |
Total depreciation expense |  |  |  |  | $ | 8,053 |  |  | $ | 4,620 |  |  |

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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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