Property and equipment were comprised of the following at December 31, 2024 and 2023:
(In thousands)20242023
Land$— $2,848 
Buildings and improvements52 8,481 
Computer equipment10,963 10,104 
Leasehold improvements246 631 
Office furniture and fixtures540 586 
Automobiles18 18 
11,819 22,668 
Less: accumulated depreciation(9,525)(13,694)
Property and equipment, net$2,294 $8,974 
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Historical Timeline

Fiscal YearFiled
2024Mar 17, 2025Showing above
2015Mar 14, 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.