Company: TRUE
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001327318-25-000006
Chunk: 158

Company: TrueCar, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 7
Chunk 158
---
5 million gain on early termination of a lease, a $0.5 million decrease in insurance premiums, and a $0.3 million decrease in ongoing facilities cost. The decrease was partially offset by $2.4 million of impairment charges on our right-of-use asset associated with office leases recognized in 2023, $2.0 million in charges associated with the Restructuring Plan undertaken in June 2023, $0.5 million in charges associated with a realignment of the Company’s leadership structure in the third quarter of 2023, and a $0.6 million increase in fair value of the Digital Motors contingent consideration liability.

Depreciation and Amortization Expenses 

 Years Ended December 31,% Change 2024202320222024 vs. 20232023 vs. 2022 (dollars in thousands)  Depreciation and amortization expenses$18,035 $17,699 $16,520 1.9 %7.1 %

Year ended December 31, 2024 compared to year ended December 31, 2023. Depreciation and amortization expenses increased $0.3 million, or 1.9%, for 2024 as compared to 2023. We expect our depreciation and amortization expenses to continue to be affected by the amount of capitalized internally developed software costs and the timing of placing projects in service.

Year ended December 31, 2023 compared to year ended December 31, 2022. Depreciation and amortization expenses increased $1.2 million, or 7.1%, for 2023 as compared to 2022. 

Goodwill Impairment

For the year ended December 31, 2022, we recognized a non-cash goodwill impairment charge of $59.8 million, which represents the amount that the carrying value of our single reporting unit was in excess of its estimated fair value at September 30, 2022. For further details, see Note 6 to our consolidated financial statements included herein.

Interest Income

 Years Ended December 31,% Change 2024202320222024 vs. 20232023 vs. 2022 (dollars in thousands)  Interest income$6,147 $6,718 $2,565 (8.5)%161.9 %

Year ended December 31, 2024 compared