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, 2022

Property, Plant and Equipment Disclosure [Text Block]

Note 7. Property, Plant and Equipment

The significant components of property, plant and equipment at October 31, 2022 and 2021 are comprised of the following:

	*October 31,*			*October 31,*
(in thousands)	*2022*			*2021*
Land, building and improvements	$	28,528		$	27,062
Finance leases—land and buildings		828			828
Machinery and equipment		478,162			374,034
Transportation equipment		7,133			2,935
Furniture and office equipment		3,870			2,880
Property, plant and equipment, gross		518,521			407,739
Less accumulated depreciation		(99,144	)		(69,968	)
Property, plant and equipment, net	$	419,377		$	337,771

Depreciation expense for the years ended October 31, 2022 and 2021 was $34.9 million and $28.8 million, respectively. Depreciation expense related to revenue producing machinery and equipment was $32.6 million and $26.8 million, respectively, for the years ended October 31, 2022 and 2021 and was recorded in cost of operations in the consolidated statements of operations. Depreciation expense related to the Company's finance leases and furniture and fixtures was $2.3 million and $2.0 million, respectively, for the years ended October 31, 2022 and 2021 and was included in general and administrative expenses in the consolidated statements of operations.