ORION ENERGY SYSTEMS, INC. PP&E Disclosure
Property and equipment were comprised of the following (dollars in thousands):
|
|
March 31, 2026 |
|
|
March 31, 2025 |
|
||
Land and land improvements |
|
$ |
433 |
|
|
$ |
433 |
|
Buildings and building improvements |
|
|
9,552 |
|
|
|
9,552 |
|
Furniture, fixtures and office equipment |
|
|
7,667 |
|
|
|
7,886 |
|
Leasehold improvements |
|
|
490 |
|
|
|
493 |
|
Equipment leased to customers |
|
|
- |
|
|
|
4,997 |
|
Plant equipment |
|
|
6,043 |
|
|
|
11,011 |
|
Vehicles |
|
|
464 |
|
|
|
464 |
|
Construction in progress |
|
|
47 |
|
|
|
— |
|
Gross property and equipment |
|
|
24,696 |
|
|
|
34,836 |
|
Less: accumulated depreciation and amortization |
|
|
(18,582 |
) |
|
|
(26,810 |
) |
Total property and equipment, net |
|
$ |
6,114 |
|
|
$ |
8,026 |
|
Depreciable lives by asset category are as follows:
Land improvements |
|
10-15 years |
Buildings and building improvements |
|
10-39 years |
Furniture, fixtures and office equipment |
|
2-10 years |
Leasehold improvements |
|
Shorter of asset life or life of lease |
Equipment leased to customers under Power Purchase Agreements |
|
20 years |
Plant equipment |
|
3-10 years |
Vehicles |
|
5-7 years |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Jun 4, 2026 | Showing above |
| 2025 | Jun 26, 2025 | |
| 2024 | Jun 12, 2024 | |
| 2023 | Jun 12, 2023 | |
| 2022 | Jun 10, 2022 | |
| 2021 | Jun 1, 2021 | |
| 2020 | Jun 5, 2020 | |
| 2019 | Jun 5, 2019 | |
| 2018 | Jun 13, 2018 | |
| 2017 | Jun 13, 2017 | |
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.