Depreciation is provided for on a straight line basis over the following useful lives:
Distribution equipment
3 — 7 years
Computer equipment and software 
3 years
Furniture, fixtures and office equipment 
5 — 7 years
Leasehold improvements Remaining lease term or the useful life, whichever is shorter
March 31, 2025March 31, 2024
 (Amounts in millions)
Distribution equipment$19.3 $19.3 
Leasehold improvements31.7 31.1 
Furniture, fixtures and office equipment4.4 4.4 
Computer equipment25.9 25.6 
Capitalized software130.9 114.1 
 212.2 194.5 
Less accumulated depreciation and amortization(163.6)(143.4)
 $48.6 $51.1 

Historical Timeline

Fiscal YearFiled
2025Jun 26, 2025Showing above
2024May 30, 2024
2023May 25, 2023
2022May 26, 2022
2021May 28, 2021
2020May 27, 2020
2019May 23, 2019
2018May 24, 2018
2017May 25, 2017
2016May 25, 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.