Property and Equipment, Net
|12 Months Ended|
Dec. 31, 2022
|Property, Plant and Equipment [Abstract]|
|Property and Equipment, Net||Property and Equipment, Net
Property and equipment, net consisted of the following:
During the year ended December 31, 2022, the Company wrote-off $43.5 million of property and equipment that was no longer in use. The property and equipment that was disposed consisted primarily of assets that were fully depreciated. The Company recorded a loss on asset disposal of $0.4 million related to the disposed assets.Depreciation and amortization expense for the years ended December 31, 2022, 2021, and 2020 was $4.9 million, $11.3 million, and $12.0 million, respectively. Loss on disposal for the years ended December 31, 2022, 2021, and 2020 was $0.4 million, $0.1 million, and $0.1 million respectively, which is included in other expense in the consolidated statements of operations. Depreciation expense includes the impact of accelerated depreciation for reductions in the estimated useful lives of certain facilities the Company exited during the year ended December 31, 2021.
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.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef