Property and Equipment

12 Months Ended

Jun. 30, 2017

(4) PROPERTY AND EQUIPMENT

Property and equipment, including assets held under capital leases, was comprised of the following:


	Estimated useful lives	As of June 30,
	(in years)	2017		2016
			(in millions)
Land	N/A	$	28.9	$	16.7
Buildings - leasehold and site improvements	15 to 39		277.1		187.3
Furniture, fixtures and office equipment	3 to 7		27.3		6.8
Computer hardware	3 to 5		33.1		24.5
Software	3		56.5		37.2
Machinery and equipment	5 to 7		483.4		326.6
Fiber optic equipment	8		826.6		732.5
Circuit switch equipment	10		337.6		20.3
Packet switch equipment	5		130.2		97.9
Fiber optic network	15 to 20		4,110.3		3,393.0
Construction in progress	N/A		651.5		656.8
Total			6,962.5		5,499.6
Less accumulated depreciation			(1,946.5)		(1,420.1)
Property and equipment, net		$	5,016.0	$	4,079.5

Total depreciation expense, including depreciation of assets held under capital leases, for the years ended June 30, 2017, 2016 and 2015 was $526.9 million, $440.5 million and $351.4 million, respectively.

During the years ended June 30, 2017, 2016 and 2015, the Company capitalized interest in the amounts of $18.8 million, $13.8 million and $12.5 million, respectively. The Company capitalized $79.9 million, $64.5 million, and $58.3 million of direct labor costs to property and equipment accounts during the years ended June 30, 2017, 2016 and 2015, respectively.