The following tables show the Company’s gross property and equipment by major asset class and accumulated depreciation as of the years ended December 31:
(in thousands)20252024
Land$2,410 $1,582 
Buildings25,833 24,438 
Machinery, furniture, and equipment76,043 68,697 
Leasehold improvements1,405 1,297 
Finance leases650 1,161 
Construction in progress8,825 4,568 
115,166 101,743 
Less: accumulated depreciation(52,690)(44,880)
Property and equipment, net$62,476 $56,863 

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Feb 28, 2025
2023Feb 29, 2024
2022Mar 9, 2023
2021Mar 15, 2022
2020Mar 11, 2021
2019Feb 27, 2020
2018Feb 27, 2019
2017Feb 27, 2018
2016Mar 2, 2017
2015Feb 23, 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.