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, 2021

Property, Plant and Equipment Disclosure [Text Block]

Note 7. Property, Plant and Equipment

The significant components of property, plant and equipment at October 31, 2021 and 2020 are comprised of the following:

	*October 31,*			*October 31,*
(in thousands)	*2021*			*2020*
Land, building and improvements	$	27,062		$	26,728
Capital leases—land and buildings		828			828
Machinery and equipment		374,034			318,029
Transportation equipment		2,935			2,338
Furniture and office equipment		2,880			1,230
Property, plant and equipment, gross		407,739			349,153
Less accumulated depreciation		(69,968	)		(44,899	)
Property, plant and equipment, net	$	337,771		$	304,254

Depreciation expense for the year ended October 31, 2021 was $28.8 million. Depreciation expense for the year ended October 31, 2020 was $28.3 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 in the consolidated statements of operations.