Property, plant and equipment consist of the following:

 

As of December 31,

 

 

2025

 

 

2024

 

 

(in thousands)

 

Land

 

$

49,329

 

 

$

49,329

 

Buildings

 

 

142,406

 

 

 

148,477

 

Machinery and equipment

 

 

488,856

 

 

 

433,113

 

Leasehold improvements

 

 

71,340

 

 

 

68,605

 

Computer equipment and software

 

 

27,101

 

 

 

21,182

 

Rental engines

 

 

207,862

 

 

 

202,070

 

Total property, plant and equipment, gross

 

 

986,894

 

 

 

922,776

 

Less: accumulated depreciation

 

 

(406,923

)

 

 

(354,169

)

Property, plant and equipment, net

 

$

579,971

 

 

$

568,607

 

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Mar 12, 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.