Property and Equipment

12 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and Equipment

Property, equipment and leasehold improvements in the accompanying consolidated balance sheets consist of the following:

	Year Ended June 30,
	2017			2016
	(Dollars in Thousands)
Property, equipment and leasehold improvements, at cost:
Computer equipment	$	8,262		$	10,387
Purchased software	24,091			23,705
Furniture & fixtures	6,805			6,712
Leasehold improvements	12,025			12,523
Property, equipment and leasehold improvements, at cost	51,183			53,327
Accumulated depreciation	(37,783		)	(37,502		)
Property, equipment and leasehold improvements, net	$	13,400		$	15,825

Property and equipment are stated at cost. We provide for depreciation and amortization, primarily computed using the straight-line method, by charges to operations in amounts estimated to allocate the cost of the assets over their estimated useful lives, as follows:

Asset Classification	Estimated Useful Life
Computer equipment	3 years
Purchased software	3 - 5 years
Furniture and fixtures	3 - 10 years
Leasehold improvements	Life of lease or asset, whichever is shorter

During fiscal 2017, we wrote off fully depreciated property, equipment and leasehold improvements that were no longer in use with gross book values of $3.3 million.

Depreciation expense was $5.0 million, $5.1 million and $4.7 million for fiscal 2017, 2016 and 2015, respectively.

We account for asset retirement obligations in accordance with ASC Topic 410, Asset Retirement and Environmental Obligations. Our asset retirement obligations relate to leasehold improvements for leased properties. The balance of our asset retirement obligations was $0.9 million as of June 30, 2017 and 2016, respectively.