Depreciated assets written-off

COSTAR GROUP, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  
8.    PROPERTY AND EQUIPMENT   
Property and equipment consists of the following (in thousands): 

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|   | December 31, |
|   | 2021 |  | 2020 |
| Leasehold improvements | $ | 75,634  |  |  | $ | 80,963  |  |
| Furniture, office equipment and vehicles | 47,540  |  |  | 68,587  |  |
| Computer hardware and software | 30,179  |  |  | 86,755  |  |
| Aircrafts | 68,670  |  |  | 28,561  |  |
| Land | 38,774  |  |  | 24,642  |  |
| Buildings | 96,496  |  |  | 2,970  |  |
| Property and equipment, gross | 357,293  |  |  | 292,478  |  |
| Accumulated depreciation and amortization | (85,862) |  |  | (166,153) |  |
| Property and equipment, net | $ | 271,431  |  |  | $ | 126,325  |  |

Depreciation expense for property and equipment was approximately $29 million, $29 million and $26 million, for the years ended December 31, 2021, 2020 and 2019, respectively. In 2021, the Company removed $107 million of property and equipment which was fully depreciated from property and equipment, gross and accumulated depreciation and amortization, which had no net impact on the Company's financial results. 9.    GOODWILL  
The changes in the carrying amount of goodwill by operating segment consist of the following (in thousands):

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | North America |  | International |  | Total |
| Goodwill, December 31, 2019 | $ | 1,738,360  |  |  | $ | 143,660  |  |  | $ | 1,882,020  |  |
| Acquisitions, including measurement period adjustments(1) | 347,134  |  |  | 1,273  |  |  | 348,407  |  |
| Effect of foreign currency translation | —  |  |  | 5,572  |  |  | 5,572  |  |
| Goodwill, December 31, 2020 | 2,085,494  |  |  | 150,505  |  |  | 2,235,999  |  |
| Acquisitions, including measurement period adjustments(2) | 60,352  |  |  | 27,441  |  |  | 87,793  |  |
| Effect of foreign currency translation | —  |  |  | (2,777) |  |  | (2,777) |  |
| Goodwill, December 31, 2021 | $ | 2,145,846  |  |  | $ | 175,169  |  |  | $ | 2,321,015  |  |
| \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ |  |  |  |  |  |

(1) North America goodwill for the year ended December 31, 2020 includes goodwill recorded in connection with the acquisitions of Ten-X and Homesnap of $135.7 million and $211.1 million, respectively, as well as STR measurement period adjustments to goodwill of $0.3 million. International goodwill for the year ended December 31, 2020 includes goodwill recorded in connection with the acquisition of Emporis GmbH of $1.2 million and STR measurement period adjustments of $0.1 million.(2) North America goodwill for the year ended December 31, 2021 includes goodwill recorded in connection with the acquisition of Homes.com of $88.5 million, offset by measurement period adjustments of $1.4 million for Ten-X and $26.7 million for Homesnap recorded during the year ended December 31, 2021 primarily related to the measurement of the fair value of Homesnap customer relationships in the first quarter of 2021. International goodwill recorded in connection with the acquisition of BureauxLocaux was $27.4 million. See Note 5 for further discussion.Of the goodwill generated from acquisitions completed in 2021, $20 million is expected to be deductible for tax purposes. Goodwill generated from acquisitions completed in 2020 was not deductible for tax purposes.No impairments of the Company's goodwill were recognized during the years ended December 31, 2021, 2020 and 2019.  
  
F-28
