Major classes of property, plant and equipment are as follows:
 December 31,
 20252024
Land and improvements$27,293 $20,204 
Buildings and improvements131,619 125,076 
Machinery, equipment and aircraft274,919 252,759 
Construction in progress27,206 10,884 
Property, plant and equipment, gross461,037 408,923 
Less accumulated depreciation(238,256)(213,837)
Property, plant and equipment, net$222,781 $195,086 

Historical Timeline

Fiscal YearFiled
2025Mar 5, 2026Showing above
2024Mar 13, 2025
2023Mar 8, 2024
2022Mar 3, 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.