v3.25.4
Property and Equipment, Net
12 Months Ended
Dec. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net

NOTE 4: PROPERTY AND EQUIPMENT, NET

Property and equipment, net consists of the following as of the dates presented:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

(in millions)

 

Capitalized website development

 

$

615

 

 

$

558

 

Finance lease right-of-use asset (Note 5)

 

 

114

 

 

 

114

 

Leasehold improvements

 

 

28

 

 

 

24

 

Computer equipment and purchased software

 

 

56

 

 

 

56

 

Furniture, office equipment and other

 

 

17

 

 

 

15

 

 

 

 

830

 

 

 

767

 

Less: accumulated depreciation

 

 

(620

)

 

 

(567

)

Total

 

$

210

 

 

$

200

 

As of December 31, 2025 and 2024, the carrying value of our capitalized website development costs, net of accumulated amortization, was $127 million and $115 million, respectively. For the years ended December 31, 2025, 2024 and 2023, we capitalized $76 million, $73 million and $66 million, respectively, related to website development costs. For the years ended December 31, 2025, 2024 and 2023, we recorded amortization of capitalized website development costs of $68 million, $59 million and $55 million, respectively, which is included in depreciation expense on our consolidated statements of operations. During the year ended December 31, 2025, we

retired and subsequently disposed of certain capitalized website development projects and computer equipment and purchased software, which were no longer in use and fully depreciated, with a total gross cost and related accumulated depreciation of $43 million.