As of December 31,
(In thousands)20252024
Computer equipment $48,998 $59,572 
Capitalized internal-use software140,459 117,863 
Leasehold improvements14,795 14,656 
Computer software (including software license arrangements of $1,365 in 2025 and 2024)
4,291 8,082 
Finance leases21,594 20,974 
Office equipment, furniture, and other3,958 5,154 
Total property and equipment234,095 226,301 
Less: accumulated depreciation and amortization (including software license arrangements of $1,365 in 2025 and 2024)
(190,381)(179,185)
Total property and equipment, net$43,714 $47,116 

Historical Timeline

Fiscal YearFiled
2025Mar 26, 2026Showing above
2024Mar 6, 2025
2023Mar 12, 2024
2022Mar 2, 2023
2021Mar 2, 2022
2020Mar 10, 2021
2019Feb 28, 2020
2018Mar 1, 2019
2017Mar 23, 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.