Property and equipment consisted of the following:
As of
(in millions)March 31, 2026March 31, 2025
Property and equipment — gross:
Land, buildings and leasehold improvements$1,547 $1,545 
Computers and related equipment 2,657 2,977 
Furniture and other equipment138 134 
Construction in progress
4,351 4,662 
Less: accumulated depreciation 3,229 3,409 
Property and equipment, net$1,122 $1,253 

Historical Timeline

Fiscal YearFiled
2026May 8, 2026Showing above
2025May 15, 2025
2024May 17, 2024
2023May 19, 2023
2022May 26, 2022
2021May 28, 2021
2020Jun 1, 2020
2019Jun 13, 2019
2018May 29, 2018

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.