Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Property, Plant and Equipment

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Note 7 - Property, Plant and Equipment
3 Months Ended
Jan. 31, 2022
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  January 31, 2022 and at  October 31, 2021 are comprised of the following:

 

   

January 31,

   

October 31,

 

(in thousands)

 

2022

   

2021

 

Land, building and improvements

  $ 27,082     $ 27,062  

Capital leases—land and buildings

    828       828  

Machinery and equipment

    400,143       374,034  

Transportation equipment

    3,945       2,935  

Furniture and office equipment

    3,018       2,880  

Property, plant and equipment, gross

    435,016       407,739  

Less accumulated depreciation

    (77,345 )     (69,968 )

Property, plant and equipment, net

  $ 357,671     $ 337,771  

 

Depreciation expense for the three-month periods ended January 31, 2022 and 2021 was $8.3 million and $6.9 million, respectively. 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.