Property and Equipment

12 Months Ended

Jun. 29, 2014

Note 6: Property and Equipment

Property and equipment, net, consist of the following:


	June 29, 2014			June 30, 2013
	(in thousands)
Manufacturing, engineering and office equipment	$	612,688		$	521,047
Computer equipment and software		131,184			120,144
Land		52,784			65,360
Buildings		199,544			249,126
Leasehold improvements		80,569			76,225
Furniture and fixtures		20,026			21,110

		1,096,795			1,053,012
Less: accumulated depreciation and amortization		(553,299	)		(449,102	)

	$	543,496		$	603,910

Depreciation expense, including amortization of capital leases, during fiscal years 2014, 2013, and 2012, was $129.1 million, $126.5 million, and $74.0 million, respectively.

During the fiscal year 2014, the Company sold its interest in property and equipment with a net book value of $82.6 million. These assets consist primarily of buildings and land, resulting in the decrease to those asset categories above. The Company realized a $7.1 million impairment on the sale of an interest in building and associated land and an $83.1 million gain on sale of a separate interest in buildings and land in the Consolidated Statement of Operations in fiscal year 2014. No significant impairment or gain on sale were realized in fiscal years 2013 or 2012.

- 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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