Concrete Pumping Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Property, Plant and Equipment

Note 7 - Property, Plant and Equipment

9 Months Ended

Jul. 31, 2020

Property, Plant and Equipment Disclosure [Text Block]

Note 7. Property, Plant and Equipment

The significant components of property, plant and equipment at July 31, 2020 and at October 31, 2019 are comprised of the following:

	*July 31,*			*October 31,*
(in thousands)	*2020*			*2019*
Land, building and improvements	$	26,682		$	26,085
Capital leases—land and buildings		828			828
Machinery and equipment		311,903			295,741
Transportation equipment		2,213			2,223
Furniture and office equipment		1,184			1,209
Property, plant and equipment, gross		342,810			326,086
Less accumulated depreciation		(36,914	)		(18,671	)
Property, plant and equipment, net	$	305,896		$	307,415

Depreciation expense for the three and nine-month periods ended July 31, 2020 was $6.5 million and $19.5 million, respectively. Depreciation expense for the Successor for the three-month period ended July 31, 2019 and the period from December 6, 2018 to July 31, 2019 was $5.5 million and $14.1 million, respectively. Depreciation expense for the Predecessor from November 1, 2018 to December 5, 2018 was $2.1 million. Depreciation expense related to revenue producing machinery and equipment is recorded in cost of operations and an immaterial amount of depreciation expense related to the Company's capital leases and furniture and fixtures is included in general and administrative expenses.