Property and Equipment, net
|12 Months Ended|
Dec. 31, 2021
|Property, Plant and Equipment [Abstract]|
|Property and Equipment, net||Property and Equipment, net
Property and equipment as of December 31, 2021 and December 31, 2020 consist of the following:
Depreciation and amortization expense related to property and equipment for the years ended December 31, 2021, 2020 and 2019 was approximately $12,304, $9,406 and $7,308 respectively.
During the years ended December 31, 2021 and 2020, $17,243 and $7,359 was capitalized in connection with internally developed software. Amortization expense was $5,416, $3,748 and $4,424 for the years ended December 31, 2021, 2020 and 2019 respectively.During the years ended December 31, 2021 and 2020, the Company recognized impairment charges of $4,567 and $0 on certain long-lived assets within other income (expense), net. During 2021, the Company determined that certain long-lived assets were no longer recoverable. The Company recognized these impairment charges on hardware components recorded within construction in progress and equipment, because it decided to cancel certain development projects due to the change in market demand as a result of the COVID-19 pandemic. The Company disposed of $490 of net book value that was placed in service as of the impairment date.
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