GameStop Corp.
For the period ended Feb 1, 2025. Filed Mar 25, 2025.
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FY2025 · Filed Mar 25, 2025
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8. Property and Equipment
- Property and Equipment
The following table presents property and equipment, net:
| Estimated Useful Lives (Years) | February 1, 2025 | February 3, 2024 | |
|---|---|---|---|
| Buildings and leasehold improvements | 1-10 | 304.2 | 384.1 |
| Fixtures and equipment | 3-10 | 264.3 | 332.1 |
| Software and hardware | 3 | 178.5 | 224.5 |
| Construction-in-progress | 5.4 | 5.4 | |
| Total property and equipment | 752.4 | 946.1 | |
| Accumulated depreciation | (684.2) | (851.2) | |
| Property and equipment, net | $68.2 | $94.9 |
Our total depreciation expensewas $38.4 million, $55.3 million and $60.3 million for fiscal 2024, 2023 and 2022, respectively, and is recorded in SG&A expenses in our Consolidated Statements of Operations.
During fiscal 2024 we closed our York, Pennsylvania distribution facility, to consolidate U.S. fulfillment activities to our Grapevine, Texas facility.
During fiscal 2024 we divested our operations in Italy, which included our facility in Milan, Italy.
During fiscal 2024 we relocated our U.S. refurbishment operations into our distribution and administration facility in Grapevine Texas. Previously these refurbishment operations were performed in a separate facility also located in Grapevine Texas.
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