Company: TEAM
Filing Date: 2025-08-15
Form Type: 10-K
Source: 0001650372-25-000036
Chunk: 139

Company: Atlassian Corp
Filing Date: 2025-08-15
Form: 10-K
Item: Item 8
Chunk 139
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 40,824 Furniture and fittings25,217 25,172 Leasehold improvements and other154,113 129,575 Property and equipment, gross252,897 206,771 Less: accumulated depreciation(147,779)(120,456)Property and equipment, net$105,118 $86,315 

Depreciation expense was $36.9 million, $29.0 million, and $27.8 million for fiscal years 2025, 2024, and 2023, respectively. During fiscal year 2023, the Company recorded an $8.4 million impairment charge to leasehold improvements as a result of the Company’s restructuring efforts, this charge is shown as a reduction of the gross cost. 

7. Goodwill and Intangible AssetsGoodwillGoodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill amounts are not amortized but rather tested for impairment at least annually during the fourth quarter, or when indicators of impairment exist.Goodwill consisted of the following (in thousands): GoodwillBalance as of June 30, 2023$727,211 Additions561,372 Effect of change in exchange rates173 Balance as of June 30, 20241,288,756 Additions14,022 Effect of change in exchange rates1,667 Balance as of June 30, 2025$1,304,445 During fiscal year 2025, the Company completed two acquisitions to expand the Company’s product and service offerings. These transactions were accounted for as business combinations and were not material individually or collectively to the consolidated financial statements. Intangible AssetsIntangible assets consisted of the following as of June 30, 2025 (in thousands):Gross Carrying AmountAccumulated AmortizationNetAcquired developed technology$466,932 $(278,525)$188,407 Patents, trade names, and other rights70,928 (37,337)33,591 Customer relationships135,687 (112,845)22,842 Total Intangible Assets$673,547 $(428,707)$244,840 Intangible assets consisted of the following as of June 30, 2024 (in thousands):

86

Gross Carrying AmountAccumulated AmortizationNetAcquired developed technology$469,752 $(242,137)$227