Annual report pursuant to Section 13 and 15(d)

Fixed Assets and Leasehold Improvements, Net

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Fixed Assets and Leasehold Improvements, Net
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Fixed Assets and Leasehold Improvements, Net
13. Fixed Assets and Leasehold Improvements, Net
Fixed assets and leasehold improvements, net, consisted of the following (in thousands):
                     
    
December 31, 2021
     
December 31, 2020
    
Estimated
Useful Life
    
Successor
     
Predecessor
  
Computer hardware and software
   
$
28,726
 
    $ 53,584     3-5 years
Furniture and fixtures
   
 
4,450
 
      5,039    
5-7 years
Leasehold improvements
   
 
4,217
 
      3,102     *
Buildings and Land
   
 
164
 
      —       10 years
Vehicles
   
 
48
 
      92     10 years
    
 
 
     
 
 
      
Total fixed assets
   
 
37,605
 
      61,817      
Less: Accumulated depreciation
   
 
(8,349
) 
      (37,305 )     
    
 
 
     
 
 
      
Total fixed assets and leasehold improvements, net
   
$
29,256
 
    $ 24,512      
    
 
 
     
 
 
      
 
*
Shorter of life of lease or useful life of assets.
The depreciation expense was $8.9 million for the (Successor) period from April 1, 2021 to December 31, 2021, and $2.9 million for the (Predecessor) period from January 1, 2021 to March 31, 2021. Depreciation expense for the Predecessor periods were $11.3 million and $10.1 million for the years ended December 31, 2020, and December 31, 2019, respectively. Depreciation expense is recorded in general and administrative expenses in the Consolidated Statements of Operations.