NETSTREIT Corp. PP&E Disclosure
| Buildings | 13 – 35 years | ||||
| Building improvements | 15 years | ||||
| Tenant improvements | Shorter of the term of the related lease or useful life | ||||
| Acquired in-place leases or leasing commissions | Remaining terms of the respective leases | ||||
| Computer equipment and other corporate assets | 3 – 5 years | ||||
| Year Ended December 31, | ||||||||||||||||||||
| 2025 | 2024 | 2023 | ||||||||||||||||||
| Depreciation on real estate held for investment and computer equipment and other corporate assets | $ | 63,177 | $ | 55,066 | $ | 44,402 | ||||||||||||||
Amortization on acquired in-place lease assets and leasing commission costs | 23,199 | 21,805 | 19,275 | |||||||||||||||||
| Total depreciation and amortization expense | $ | 86,376 | $ | 76,871 | $ | 63,677 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 10, 2026 | Showing above |
| 2024 | Feb 24, 2025 | |
| 2023 | Feb 14, 2024 | |
| 2022 | Feb 23, 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.