Property and equipment is stated at cost, and when placed into service, are depreciated using the straight line method over the following ranges of useful lives:
Machinery, equipment and vehicles
3 - 15 years
Buildings and improvements
10 - 40 years
Computer and office equipment
3 - 7 years
Furniture and fixtures
3 - 10 years
Property and equipment, net, consisted of the following (in thousands):
August 31,
2025
August 31,
2024
Machinery, equipment and vehicles$54,975 $53,844 
Buildings and improvements29,695 28,433 
Computer and office equipment6,577 6,652 
Internal-use software10,625 9,799 
Furniture and fixtures3,467 3,165 
Capital in progress3,583 3,344 
Land4,294 4,260 
Subtotal113,216 109,497 
Less: accumulated depreciation and amortization(52,822)(46,514)
Total$60,394 $62,983 
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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.