Property and equipment consist of the following (in thousands):
December 31,
20252024
Software$102,632 $153,380 
Buildings93,508 93,415 
Equipment54,133 55,777 
Furniture and fixtures42,356 42,851 
Leasehold improvements66,250 53,660 
Land14,300 36,906 
373,179 435,989 
Accumulated depreciation and amortization
(184,730)(220,311)
Property and equipment, net$188,449 $215,678 

Historical Timeline

Fiscal YearFiled
2025Feb 12, 2026Showing above
2024Feb 14, 2025
2023Feb 22, 2024
2022Feb 16, 2023
2021Feb 18, 2022
2020Feb 17, 2021
2019Feb 21, 2020
2018Feb 22, 2019
2017Feb 26, 2018
2016Feb 17, 2017
2015Feb 19, 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.