Property and equipment consisted of the following as of the dates presented (in thousands):
As of December 31,
20252024
Land$5,344 $5,344 
Buildings and improvements
45,582 42,374 
Computers10,367 9,761 
Furniture4,058 3,844 
Automobiles and other vehicles15,177 14,744 
Software7,131 7,007 
Total87,659 83,074 
Less: Accumulated depreciation and amortization(39,518)(34,982)
Net of accumulated depreciation and amortization48,141 48,092 
Construction in progress1,208 561 
Property and equipment, net$49,349 $48,653 
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Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Feb 28, 2025
2023Feb 28, 2024
2022Feb 28, 2023
2021Feb 28, 2022
2020Feb 26, 2021
2019Mar 2, 2020
2018Mar 1, 2019
2017Feb 23, 2018
2016Feb 24, 2017
2015Feb 24, 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.