 |
|
|
 |
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS |
|
|
3. PROPERTY AND EQUIPMENT
Property and equipment consisted of the following at the dates indicated:
| |
JULY 31, |
|
|
| (Dollars in thousands) |
LIFE IN YEARS |
2003 |
2004 |
|
| Equipment |
|
3-5 |
|
$ |
215,605 |
|
$ |
253,063 |
|
 |
| Computer software |
|
3-5 |
|
|
99,258 |
|
|
131,481 |
|
|
| Furniture and fixtures |
|
5 |
|
|
28,930 |
|
|
28,557 |
|
|
| Leasehold improvements |
|
5-10 |
|
|
69,291 |
|
|
71,741 |
|
|
| Land |
|
N/A |
|
|
2,287 |
|
|
2,348 |
|
|
| Buildings |
|
30 |
|
|
25,875 |
|
|
26,646 |
|
|
| Capital in progress |
|
N/A |
|
|
22,267 |
|
|
55,923 |
|
|
| |
|
|
|
|
463,513 |
|
|
569,759 |
|
|
| Less accumulated depreciation and amortization |
|
|
|
|
(275,260 |
) |
|
(336,658 |
) |
|
| |
|
|
|
$ |
188,253 |
|
$ |
233,101 |
|
|
|
|
Capital in progress consists primarily of costs related to internal use software projects. As discussed in Note 1, "Software Development Costs," we
capitalize costs related to the development of computer software for internal use in accordance with SOP 98-1. We capitalized internal use software
costs totaling $19.9 million in fiscal 2002, $43.0 million in fiscal 2003 and $65.9 million in fiscal 2004. These amounts included capitalized labor costs of $12.9 million in fiscal 2002, $23.0 million in fiscal 2003 and $21.7 million in fiscal 2004. Costs related to internal use software projects are included in the capital in progress category of property and equipment until project completion, at which time they are transferred to the computer software
category and amortized on a straight-line basis over their useful lives, generally three to five years.
|
|
|
