
	December 31, 2025
	Cost	Accumulated depreciation and impairment	Net book value
	(in US $ millions)
Leasehold improvements(1)	159	118	41
Computer equipment	38	30	8
Furniture and equipment	31	27	4
	228	175	53


	December 31, 2024
	Cost	Accumulated depreciation and impairment	Net book value
	(in US $ millions)
Leasehold improvements	149	115	34
Computer equipment	40	29	11
Furniture and equipment	28	26	2
	217	170	47

(1) $5 million of leasehold improvements were impaired and disposed of in the year ended December 31, 2025 (December 31, 2023 - $12 million). See Note 11 for details.

During the year ended December 31, 2025, the Company disposed of and retired computer equipment with an original cost of $8 million (December 31, 2024 - $8 million). There was no material gain or loss recognized in the consolidated statements of operations and comprehensive income as a result of the retirement and disposal of these assets.

The following table illustrates the classification of depreciation in the consolidated statements of operations and comprehensive income:


	Years ended
	December 31, 2025	December 31, 2024	December 31, 2023

	(in US $ millions)
Cost of revenues	—	—	3
Sales and marketing	5	7	7
Research and development	9	11	13
General and administrative	4	4	5
	18	22	28