Property and equipment consisted of the following: | | | | | | | | | | | | | June 30, | | 2026 | | 2025 | | (in millions) | | | | | | | | | | Leasehold Improvements | $ | 227.8 | | | $ | 257.0 | | | Machinery | 11.9 | | | 10.3 | | | Equipment | 32.0 | | | 39.6 | | | Customer-leased equipment | 31.4 | | | 51.3 | | | Furniture and Fixtures | 15.7 | | | 18.2 | | | Construction in Progress | 1.8 | | | 0.4 | | Software (1) | 145.6 | | | 160.5 | | | Total property and equipment | 466.3 | | | 537.3 | | | Accumulated depreciation and amortization | (301.8) | | | (298.3) | | | Total property and equipment, net | $ | 164.5 | | | $ | 239.0 | |
_________________________ (1) Includes $2.6 million and $1.0 million of software under development as of June 30, 2026 and 2025, respectively. The estimated useful lives of property and equipment are as follows: | | | | | | | | | Leasehold Improvements | Shorter of remaining lease term or useful life | | Machinery | Three to ten years | | Equipment | Two to seven years | | Customer-leased equipment | Three to five years | | Furniture and Fixtures | Two to ten years | | Software | Two to seven years |
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