Property and Equipment

12 Months Ended

Jun. 30, 2019

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,
	2019			2018
	(Dollars in Thousands)
Property, equipment and leasehold improvements, at cost:
Computer equipment	$	6,642		$	8,344
Purchased software	22,793			24,225
Furniture & fixtures	6,794			6,850
Leasehold improvements	12,232			12,023
Property, equipment and leasehold improvements, at cost	48,461			51,442
Accumulated depreciation	(41,227		)	(41,636		)
Property, equipment and leasehold improvements, net	$	7,234		$	9,806

Property and equipment are stated at cost. We record depreciation using the straight-line method 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 2019 and 2018, we wrote off fully depreciated property, equipment and leasehold improvements that were no longer in use with gross book values of $3.5 million and less than $0.1 million, respectively.

Depreciation expense was $3.1 million, $3.9 million and $5.0 million for fiscal 2019, 2018 and 2017, 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, 2019 and 2018, respectively.