Depreciation and amortization on individual components of property is computed using the straight-line method over the estimated useful lives of the assets as follows:
 Years
Buildings15
Machinery and equipment
3-20
Leasehold improvementsShorter of useful lives or lease term
Office equipment and fixtures
2-10
Vehicles
2-10
Computer hardware and software
3
Property, plant, and equipment consisted of the following (in thousands):
 December 31,
 20252024
Land and buildings$2,062 $2,062 
Machinery and equipment29,642 28,563 
Leasehold improvements12,398 12,396 
Office equipment and fixtures23,455 21,921 
Vehicles2,617 2,832 
Computer software and hardware28,568 27,183 
Property, plant, and equipment, gross
98,742 94,957 
Plus: construction in progress
9,220 5,877 
Less: accumulated depreciation
(74,259)(63,885)
Property, plant, and equipment, net$33,703 $36,949 

Historical Timeline

Fiscal YearFiled
2025Mar 6, 2026Showing above
2024Mar 7, 2025
2023Mar 8, 2024
2022Mar 16, 2023
2021Mar 29, 2022

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.