Compuware Corporation and Subsidiaries
Consolidated Financial Statements
Notes to Consolidated Financial Statements
4. PRORERTY AND EQUIPMENT
Property and equipment, summarized by major classification, is as follows (in thousands):
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MARCH 31,
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2001 |
|
2000 |
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| Land |
$ 1,776 |
1,776 |
| Construction in progress |
25,166 |
2,223 |
| Buildings |
28,780 |
28,784 |
| Leasehold improvements |
24,226 |
23,794 |
| Furniture and fixtures |
52,780 |
50,083 |
| Computer equipment and software |
101,105 |
93,940 |
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|
|
| |
233,833 |
200,600 |
Less accumulated depreciation and
amortization |
108,033 |
86,191 |
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| Total |
$ 125,800 |
$ 114,409 |
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On October 23, 2000, the Company entered into a Restated Development Agreement
with the city of Detroit and
the city of Detroit Downtown Development Authority to construct an office tower with retail
and related amenities
for a current estimated cost of $350 million. As of March 31, 2001 and 2000, approximately $25,166,000 and
$2,223,000, respectively, was expended and included in construction in progress.
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