Property and equipment consisted of the following (in thousands):
December 31, 2025December 31, 2024
Gross AssetsAccumulated
Depreciation
TotalGross AssetsAccumulated
Depreciation
Total
Furniture, fixtures, and equipment$6,358 $(5,032)$1,326 $6,180 $(4,588)$1,592 
Automobiles66 (66)— 87 (87)— 
Leasehold improvements5,099 (3,066)2,033 4,911 (2,473)2,438 
Total$11,523 $(8,164)$3,359 $11,178 $(7,148)$4,030 

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Mar 11, 2025
2023Apr 10, 2024
2022Mar 16, 2023
2021Mar 15, 2022
2020Mar 22, 2021
2019Mar 30, 2020
2018Mar 22, 2019
2017Mar 19, 2018
2016Mar 22, 2017
2015Mar 9, 2016

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.