Depreciation is
computed using the straight-line method over the estimated useful life of the related asset (except leasehold improvements which are depreciated over the shorter of their estimated useful life or the lease term) as follows:
Buildings and improvements
10-40 years
Manufacturing equipment and tooling
3-15 years
Furniture, fixtures, and computer software and equipment
3-10 years
Other
3-10 years
Gross property, plant and equipment consisted of the following at December 31:
 20252024
Land$4,368 $4,174 
Buildings and improvements71,774 64,719 
Manufacturing equipment and tooling108,826 98,042 
Furniture, fixtures, and computer software and equipment37,037 36,182 
Other16,582 16,145 
Construction in process10,693 15,862 
 Total gross property, plant and equipment$249,280 $235,124 

Historical Timeline

Fiscal YearFiled
2025Feb 23, 2026Showing above
2024Feb 24, 2025
2023Feb 23, 2024
2022Feb 27, 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.