Property and equipment is summarized as follows (dollars in thousands):
March 31, 2026March 31, 2025
Leasehold improvements$14,591 $14,508 
Data processing equipment4,635 5,425 
Office furniture and other equipment4,170 3,880 
23,396 23,813 
Less accumulated depreciation and amortization(18,246)(17,629)
Property and equipment, net of accumulated depreciation and amortization$5,150 $6,184 

Historical Timeline

Fiscal YearFiled
2026May 21, 2026Showing above
2025May 21, 2025
2024May 22, 2024
2023May 24, 2023
2022May 24, 2022
2021May 27, 2021
2020May 26, 2020
2019May 29, 2019
2018May 25, 2018
2017May 26, 2017
2016May 27, 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.