December 31,

 
  

2025

  

2024

 

Land

 $130  $115 

Buildings and improvements

  16,408   19,385 

Machinery and equipment

  103,445   99,747 

Construction in progress

  7,114   5,243 
   127,097   124,490 

Accumulated depreciation

  (78,669)  (76,611)

Property, plant and equipment, net

 $48,428  $47,879 

Historical Timeline

Fiscal YearFiled
2025Feb 24, 2026Showing above
2024Feb 28, 2025
2023Mar 11, 2024
2022Mar 10, 2023
2021Mar 14, 2022
2020Mar 12, 2021
2019Mar 25, 2020
2018Mar 8, 2019
2017Mar 9, 2018
2016Mar 10, 2017
2015Mar 11, 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.