Property, plant and equipment, net consists of the following:
 
  December 31, Estimated
 20252024 Useful Lives
Land and improvements$45,022 $41,945  10 to 25 years
Buildings and improvements274,806 256,606  10 to 40 years
Machinery and equipment1,252,002 1,187,476  5 to 10 years
Construction in progress55,021 60,142 
Property, plant and equipment$1,626,851 $1,546,169 
Accumulated depreciation(1,103,343)(1,006,968)
Property, plant and equipment, net$523,508 $539,201 

Historical Timeline

Fiscal YearFiled
2025Feb 13, 2026Showing above
2024Feb 14, 2025
2023Feb 16, 2024
2022Feb 17, 2023
2021Feb 18, 2022
2020Feb 22, 2021
2019Feb 26, 2020
2018Feb 25, 2019
2017Feb 20, 2018
2016Feb 17, 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.