Major classes of property, plant and equipment were as follows:


	December 31, 2025		December 31, 2024

	(U.S. Dollars in thousands)
Land and land improvements	$	513,470	$	524,205
Buildings and leasehold improvements	333,400		333,536
Machinery and equipment	387,102		339,594
Computer software	92,167		77,124
Vessels and containers	253,476		206,174
Machinery and equipment and vessel containers under finance leases	79,487		100,116
Construction in progress	42,260		41,679
Property, plant and equipment, gross	1,701,362		1,622,428
Accumulated depreciation	(619,706)		(502,062)
Property, plant and equipment, net	$	1,081,656	$	1,120,366

There is approximately $34.2 million of property, plant and equipment, net that was excluded from the Vegetables Transaction that are being leased to third parties. The amounts are primarily comprised of land and land improvements and buildings and leasehold improvements.

Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows:


						Years

Land improvements						1 to 25
Buildings and leasehold improvements*						2 to 40
Machinery and equipment						1 to 25
Computer software						1 to 7
Vessels and containers						1 to 30
Machinery and equipment and vessel containers under finance leases						Shorter of lease term or useful life

*Leasehold improvements are depreciated using the shorter of the useful life or life of the lease.

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.

Dole plc PP&E Disclosure

About PP&E Disclosures

Other Available Disclosures