Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.20.4
Property and Equipment
12 Months Ended
Dec. 31, 2020
Property, Plant and Equipment [Abstract]  
Property and Equipment Property and Equipment
 
Property and equipment consist of the following (amounts in thousands):
  December 31,
2020
December 31,
2019
Property and equipment, net:    
Leasehold improvements $ 547  $ 397 
Computer systems and software 57,126  43,915 
Furniture and fixtures 1,891  1,561 
59,564  45,873 
Accumulated depreciation (17,621) (3,777)
Property and equipment, net $ 41,943  $ 42,096 
 
Depreciation expense for the Successor Company year ended December 31, 2020, the Successor Company period September 1, 2019 through December 31, 2019, the Predecessor Company period January 1, 2019 through August 31, 2019, and the Predecessor Company year ended December 31, 2018 was $13,844,000, $3,777,000, $7,348,000 and $11,434,000, respectively.

In connection with the application of fresh start accounting on August 31, 2019, the Company recorded fair value adjustments disclosed in Note 4, Fresh Start Accounting. Accumulated depreciation was therefore eliminated as of that date.