CULP INC PP&E Disclosure
A summary of property, plant, and equipment follows:
(dollars in thousands) |
|
depreciable lives |
|
April 27, |
|
|
April 28, |
|
|
||
land and improvements |
|
0-10 |
|
$ |
596 |
|
|
$ |
947 |
|
|
buildings and improvements |
|
7-40 |
|
|
25,286 |
|
|
|
30,774 |
|
|
leasehold improvements |
|
** |
|
|
2,044 |
|
|
|
2,388 |
|
|
machinery and equipment |
|
3-15 |
|
|
50,361 |
|
|
|
67,703 |
|
|
data processing equipment and software |
|
3-7 |
|
|
8,500 |
|
|
|
8,597 |
|
|
office furniture and equipment |
|
3-10 |
|
|
1,250 |
|
|
|
1,456 |
|
|
capital projects in progress |
|
|
|
|
549 |
|
|
|
1,596 |
|
|
|
|
|
|
|
88,586 |
|
|
|
113,461 |
|
|
accumulated depreciation |
|
|
|
|
(63,750 |
) |
|
|
(80,279 |
) |
|
|
|
|
|
$ |
24,836 |
|
|
$ |
33,182 |
|
|
** .
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jul 11, 2025 | Showing above |
| 2024 | Jul 12, 2024 | |
| 2023 | Jul 14, 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.