Depreciation is computed using the straight-line method over the estimated useful lives of the assets as follows:
Years
Buildings
30–40 Years
Furniture and fixtures
1–8 Years
Machinery and equipment
1–26 Years
Vehicles
1–8 Years
Leasehold improvementsShorter of remaining lease term or estimated useful life
Property, plant and equipment, net by geographical area consisted of the following (in thousands):
December 31, 2025December 31, 2024
United States$65,565 $46,580 
Germany13,392 12,643 
Other foreign jurisdictions6,181 5,554 
Total property, plant and equipment, net$85,138 $64,777 

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Feb 20, 2025

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.