The following table presents details of the Company’s property, plant and equipment (PP&E), net of accumulated depreciation:
20252024 (1)
Land and buildings$2,118,530 $2,077,384 
Machinery and equipment4,592,126 4,441,293 
Office equipment499,227 477,884 
Leasehold improvements195,707 191,427 
7,405,590 7,187,988 
Less accumulated depreciation and amortization4,089,894 3,772,438 
Net property, plant and equipment$3,315,696 $3,415,550 
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(1)Certain amounts previously reported between land and buildings and machinery and equipment have been reclassified to conform to the current year presentation.
Depreciation is based on the following ranges of estimated useful lives:
Buildings
Up to 30 years
Machinery & equipment
4-10 years
Office equipment
2-10 years
Leasehold improvements
5-20 years

Historical Timeline

Fiscal YearFiled
2025Nov 25, 2025Showing above
2023Nov 21, 2023

About PP&E Disclosures

The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.

Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.