PP&E are recorded at cost, with depreciation expense included in cost of licensing, cost of products and services, R&D, S&M, and G&A expenses in our consolidated statements of operations. Depreciation expense was $42.4 million, $54.0 million, and $59.5 million in fiscal 2024, 2023, and 2022, respectively.

As of September 27, 2024 and September 29, 2023, PP&E consisted of the following (in thousands):


Property, Plant, and Equipment	September 27, 2024		September 29, 2023
Land	$	42,010	$	41,902
Buildings and building improvements	288,908		287,799
Leasehold improvements	86,613		79,988
Machinery and equipment	138,425		152,675
Computer equipment and software	240,930		233,224
Furniture and fixtures	31,581		32,629
Equipment provided under operating leases	244,327		211,910
Construction-in-progress	25,091		18,327
Property, plant, and equipment, gross	1,097,885		1,058,454
Less: accumulated depreciation	(618,776)		(576,873)
Property, plant, and equipment, net	$	479,109	$	481,581