Property and equipment, net consists of the following (in thousands):
 At the End of Fiscal
 20252026
Test and infrastructure equipment (1)
$457,033 $499,903 
Computer equipment and software
393,623 488,355 
Furniture and fixtures13,948 14,609 
Leasehold improvements102,002 114,510 
Capitalized software development costs65,824 95,301 
Total property and equipment1,032,430 1,212,678 
Less: accumulated depreciation and amortization(570,699)(625,656)
Property and equipment, net$461,731 $587,022 
_________________________________
(1) Includes finance lease right-of-use assets. Refer to Note 8.

Historical Timeline

Fiscal YearFiled
2026Mar 25, 2026Showing above
2025Mar 27, 2025

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.