(Dollars in Thousands)

  ​ ​ ​

Depreciable Lives

  ​ ​ ​

December 31, 2025

  ​ ​ ​

December 31, 2024

Land

$

5,160

$

6,581

Buildings

10-40 years

182,653

175,171

Leasehold improvements(1)

12,471

12,320

Plant equipment

3-15 years

360,576

249,933

Vehicles and transportation equipment

3-5 years

301

615

IT systems

3-7 years

13,271

12,717

Furniture and fixtures

3-10 years

7,612

7,373

Customer beverage equipment(2)

3-5 years

22,669

21,826

Lease right-of-use assets(3)

60

81

Construction in progress and equipment deposits

27,132

85,279

631,905

571,896

Less: accumulated depreciation

(148,299)

(104,885)

Property, plant and equipment, net

$

483,606

$

467,011

1 - Leasehold improvements are amortized over the shorter of their estimated useful lives or the related lease life.

2 - Customer beverage equipment consists of brewers held on site at customer locations.

3 - Lease right-of-use assets are amortized over the shorter of the useful life of the asset or the lease term.

Historical Timeline

Fiscal YearFiled
2025Mar 10, 2026Showing above
2024Mar 12, 2025
2023Mar 15, 2024
2022Mar 21, 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.