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Property and Equipment and Capitalized Software and Curriculum

12 Months Ended

Jun. 30, 2020

Property and Equipment and Capitalized Software and Curriculum

Property and Equipment and Capitalized Software and Curriculum

4. Property and Equipment and Capitalized Software and Curriculum

Property and equipment consists of the following at:

​

​	​	​	​	​	​	​
​	​	June 30,
​		2020			2019
​	​	(In thousands)
Student computers	​	$	48,153	​	$	43,845
Computer software	​		17,268	​		17,999
Computer hardware	​		14,505	​		14,118
Leasehold improvements	​		17,396	​		10,364
State testing computers	​	​	7,461	​	​	7,470
Furniture and fixtures	​		7,178	​		4,058
Office equipment	​		1,372	​		1,382
​	​		113,333	​		99,236
Less accumulated depreciation and amortization	​		(74,665)	​		(67,256)
​	​	$	38,668	​	$	31,980

​

The Company recorded depreciation expense related to property and equipment reflected in selling, general, and administrative expenses of $4.3 million, $5.2 million and $5.1 million during the years ended June 30, 2020, 2019 and 2018, respectively. Depreciation expense of $17.9 million, $15.0 million and $12.4 million related to computers provided to students is reflected in instructional costs and services during the years ended June 30, 2020, 2019 and 2018, respectively. Amortization expense of zero, zero and $0.5 million related to student software costs is reflected in instructional costs and services during the years ended June 30, 2020, 2019 and 2018, respectively.

The Company incurs maintenance and repair expenses, which are expensed as incurred, and recorded in selling, general, and administrative expenses. Maintenance and repair expenses totaled $10.3 million, $13.7 million and $12.1 million for the years ended June 30, 2020, 2019 and 2018, respectively.

Capitalized software costs consist of the following at:

​

​	​	​	​	​	​	​
​	​	June 30,
​		2020			2019
​	​	(In thousands)
Capitalized software	​	$	249,720	​	$	226,503
Less accumulated depreciation and amortization	​		(201,227)	​		(175,338)
​	​	$	48,493	​	$	51,165

​

The Company recorded amortization expense of $20.8 million, $22.3 million and $25.8 million related to capitalized software reflected in instructional costs and services and $5.5 million, $7.4 million and $9.1 million reflected in selling, general, and administrative expenses during the years ended June 30, 2020, 2019 and 2018, respectively.

Capitalized curriculum development costs consist of the following at:

​

​	​	​	​	​	​	​
​	​	June 30,
​		2020			2019
​	​	(In thousands)
Capitalized curriculum development costs	​	$	156,018	​	$	156,671
Less accumulated depreciation and amortization	​		(107,169)	​		(103,374)
​	​	$	48,849	​	$	53,297

​

The Company recorded amortization expense of $17.5 million, $18.5 million and $19.4 million related to capitalized curriculum development cost reflected in instructional costs and services during the years ended June 30, 2020, 2019 and 2018, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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