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

3 Months Ended

Jan. 31, 2022

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.