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PROPERTY AND EQUIPMENT

12 Months Ended

Jun. 30, 2018

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

4.    PROPERTY AND EQUIPMENT

        Property and equipment consisted of the following (in thousands):

				June 30,
		Estimated Useful Lives
				2017			2018
Land		N/A		$	14,212		$	16,569
Buildings, civil works and improvements		5-40 years			157,123			56,585
Leasehold improvements		1-13 years			9,025			9,681
Equipment and tooling		3-10 years			166,991			117,294
Furniture and fixtures		3-10 years			3,371			3,331
Computer equipment		3-5 years			17,991			18,759
Computer software		3-10 years			17,303			19,509
Computer software implementation in process		N/A			2,590			4,318
Construction in process		N/A			1,049			790
​	​	​	​	​	​	​	​	​	​
Total					389,655			246,836
Less accumulated depreciation and amortization					(248,116	)		(131,312	)
​	​	​	​	​	​	​	​	​	​
Property and equipment, net				$	141,539		$	115,524
​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​

        During fiscal 2016, 2017 and 2018, depreciation expense was approximately $52.2 million, $56.0 million and $43.3 million, respectvely. In September 2017, we purchased the AS&E facility in Billerica, MA for $19.8 million.

        In January 2018, we entered into a new two-year agreement with the Mexican government to provide security screening services. Upon inception of the new contract, we transferred certain fixed assets with a net book value of $29.5 million to the customer, and this remaining cost to obtain the contract is amortized on a straightline basis over the term of the contract as corresponding revenues are recognized. During fiscal 2018, we recognized $6.9 million of amortization expense related to such assets. As of June 30, 2018, $14.7 million and $7.9 million are recorded within Prepaid expenses and other current assets and Other assets, respectively.

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- References

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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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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