Property and Equipment

4. Property and Equipment

Property and equipment as of the end of fiscal 2013 and 2012 consisted of the following (in thousands):


	Life	2013			2012
Land	—	$	7,900		$	2,500
Building and building improvements	35 years		27,000			11,172
Computer equipment	3 years		10,536			6,983
Manufacturing equipment	1 year to 5 years		22,508			18,519
Furniture, fixtures, and leasehold improvements	3 years to 5 years		11,157			7,096
Capitalized software	3 years to 7 years		14,219			11,762

			93,320			58,032
Accumulated depreciation and amortization			(35,285	)		(33,129	)

Property and equipment, net		$	58,035		$	24,903

For fiscal 2013 and 2012, we retired fully depreciated equipment and furniture with an original cost of $4.3 million and $5.1 million, respectively.

In fiscal year 2013, we acquired a new headquarters campus in San Jose, California, consisting of three office buildings of approximately 151,000 square feet of space and approximately 7.84 acres of land for $11.8 million, exclusive of adjustments and closing costs. Upon completion of renovations and improvements, including adding approximately 10,000 square feet to one of the buildings, in June 2013, we consolidated our Santa Clara workforce into the new location.

In fiscal 2013, we sold our Santa Clara headquarters property for $12.6 million and recorded a net gain on sale of property and equipment of $1.6 million.

- 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.

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