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v3.24.3

Property, Equipment and Software, net | 9 Months Ended
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Sep. 30, 2024
Property, Plant and Equipment [Abstract] |
Property, Equipment and Software, net | Property, Equipment and Software, net Property, equipment and software, net, consisted of the following:
(In millions) | December 31, 2023 |  | September 30, 2024
Computers and equipment | $ | 1,154.9 |  |  | $ | 1,170.8 |
Software | 452.8 |  |  | 446.2 |
Furniture and fixtures | 14.5 |  |  | 12.3 |
Buildings and leasehold improvements | 411.8 |  |  | 418.5 |
Property, equipment and software, at cost | 2,034.0 |  |  | 2,047.8 |
Less: Accumulated depreciation | (1,442.1) |  |  | (1,441.5) |
Work in process | 16.9 |  |  | 10.0 |
Property, equipment and software, net | $ | 608.8 |  |  | $ | 616.3 |
In October 2022, we announced our intention to sell our current corporate headquarters facility located in Windcrest, Texas and relocate our corporate headquarters to leased office space in San Antonio, Texas. As such, as of December 31, 2022, this property met the criteria to be classified as held for sale under GAAP and the carrying amount of the property was remeasured each reporting period for changes in the estimated fair value, less cost to sell. In July 2023, we entered into a purchase and sale agreement with a potential buyer of the property. As such, we increased the property’s estimated fair value, less estimated cost to sell, resulting in an $8.6 million gain, which is included in "Impairment of assets, net" in our Condensed Consolidated Statements of Comprehensive Loss for the three and nine months ended September 30, 2023. In March 2024, we completed the sale of the property. The property’s estimated fair value, less estimated cost to sell prior to the sale was $16.9 million and we received cash proceeds of $17.5 million, less brokerage and professional fees of $0.6 million, resulting in net cash proceeds of $16.9 million. In connection with the completion of the sale, we paid a $9.0 million early termination fee to certain local governments related to our termination of the Master Economic Incentives Agreement (the “MEIA”) associated with the property. This amount is included in “Selling, general and administrative expenses” in our Condensed Consolidated Statements of Comprehensive Loss for the nine months ended September 30, 2024.

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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/1943274/2147477798/958-360-50-6 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/1943274/2147477798/958-360-50-1 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/1943274/2147477798/958-360-50-7 + Details
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