Concrete Pumping Holdings, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Note 7 - Property, Plant and Equipment

Note 7 - Property, Plant and Equipment

12 Months Ended

Oct. 31, 2020

Property, Plant and Equipment Disclosure [Text Block]

Note 7. Property, Plant and Equipment

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

	*October 31,*			*October 31,*
(in thousands)	*2020*			*2019*
Land, building and improvements	$	26,728		$	26,085
Capital leases—land and buildings		828			828
Machinery and equipment		318,029			295,741
Transportation equipment		2,338			2,223
Furniture and office equipment		1,230			1,209
Property, plant and equipment, gross		349,153			326,086
Less accumulated depreciation		(44,899	)		(18,671	)
Property, plant and equipment, net	$	304,254		$	307,415

Depreciation expense for the Successor year ended October 31, 2020 was $28.3 million. Depreciation expense for the Successor period from December 6, 2018 to October 31, 2019 was $20.3 million. 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.