Property and Equipment, Net

6 Months Ended

Jul. 31, 2014

Note 3.

Property, Plant and Equipment, Net

Property and equipment, net consists of the following as of the dates shown (in thousands):

	July 31,			January 31,
	2014			2014
Land and building	$	24,024		$	—
Equipment and computers		2,845			1,912
Furniture and fixtures		1,085			948
Leasehold improvements		1,105			979
		29,059			3,839
Less accumulated depreciation		(2,034	)		(1,394	)
Total property and equipment, net		27,025			2,445

Total depreciation expense for the three and six months ended July 31, 2014 was $0.4 million and $0.7 million, respectively, and $0.2 million and $0.4 million, for the three and six months ended July 31, 2013, respectively. Land is not depreciated.

Acquisition of Corporate Headquarters Building

On July 22, 2014, we purchased land and a building for our new corporate headquarters located in Pleasanton, California for $24.0 million. The headquarters will support the overall growth of our business, and we expect to occupy the building in spring 2015. As of July 31, 2014, the allocation of the purchase price between the land and building has not yet been finalized.

- 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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