Property and equipment consisted of the following as of the dates indicated (in thousands):
  As of December 31,
 Estimated useful lives20252024
Computer equipment3 years$19,519 $16,878 
Furniture and equipment
2 - 4 years
16,130 14,601 
Leasehold improvementsShorter of life of asset or lease term72,820 65,510 
Construction in progressNot applicable— 3,872 
BuildingLease term133,063 133,063 
Website and app development
3 - 5 years
311,953 305,516 
553,485 539,440 
Less: Accumulated depreciation and amortization324,288 302,734 
$229,197 $236,706 
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Historical Timeline

Fiscal YearFiled
2025Feb 19, 2026Showing above
2024Feb 19, 2025
2023Feb 22, 2024
2022Feb 23, 2023
2021Feb 25, 2022
2020Feb 26, 2021
2019Feb 27, 2020
2018Feb 28, 2019
2017Mar 1, 2018
2016Feb 28, 2017
2015Mar 1, 2016

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.