The components of property and equipment at December 31, consisted of the following:

 

   December 31,   December 31,    
   2025   2024    
            
Land & Improvements  $313,000   $300,000    
Buildings and Improvements   2,739,000    2,739,000   31.5 years
Machinery and Equipment   26,953,000    25,592,000   5 - 8 years
Tools and Instruments   16,278,000    15,238,000   1.5 - 7 years
Automotive Equipment   266,000    266,000   5 years
Furniture and Fixtures   309,000    309,000   5 - 8 years
Leasehold Improvements   1,139,000    1,139,000   Term of lease
Computers and Software   705,000    605,000   4 - 6  years
Total Property and Equipment   48,702,000    46,188,000    
Less: Accumulated Depreciation   (39,201,000)   (37,379,000)   
Property and Equipment, net  $9,501,000   $8,809,000    

Historical Timeline

Fiscal YearFiled
2025Mar 27, 2026Showing above
2024Apr 15, 2025
2023Apr 15, 2024
2022May 16, 2023
2021Mar 25, 2022
2020Mar 29, 2021
2019Mar 27, 2020
2018Apr 1, 2019
2015Apr 4, 2016

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.