Property and Equipment

4. Property and Equipment

Property and equipment as of the end of fiscal 2014 and 2013 consisted of the following (in thousands):


	Life	2014			2013
Land	—	$	13,300		$	7,900
Building and building improvements	35 years		30,993			27,000
Computer equipment	3 - 5 years		15,395			10,536
Manufacturing equipment	1 year to 5 years		33,368			22,508
Furniture, fixtures, and leasehold improvements	3 years to 10 years		19,830			11,157
Capitalized software	3 years to 7 years		17,445			14,219

			130,331			93,320
Accumulated depreciation and amortization			(49,482	)		(35,285	)

Property and equipment, net		$	80,849		$	58,035

In fiscal 2014 there was no property and equipment retired which was fully depreciated. For fiscal 2013, we retired fully depreciated equipment and furniture with an original cost of $4.3 million.

During fiscal 2014, we purchased a 5.35 acre site, with two single story buildings totaling approximately 80,000 square feet, located adjacent to our San Jose headquarters for approximately $10.1 million in cash. We allocated $5.4 million of the cost to land and the remaining $4.7 million to buildings. We plan to retrofit one of the two buildings, or approximately 51,000 square feet, to support expansion of our San Jose-based employee population. The second building is leased to a tenant through March 2016, with an option for the tenant to renew the lease for an additional five years.

- 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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