Annual report pursuant to Section 13 and 15(d)

Note 7 - Property, Plant and Equipment

v3.21.1
Note 7 - Property, Plant and Equipment
12 Months Ended
Oct. 31, 2020
Notes to Financial Statements  
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.