General form of registration statement for all companies including face-amount certificate companies

Note 7 - Property, Plant and Equipment

v3.19.1
Note 7 - Property, Plant and Equipment
 3 Months Ended 12 Months Ended
Jan. 31, 2019
Oct. 31, 2018
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, 2019
for the Successor and at
October 31, 2018
for the Predecessor are comprised of the following:
 
   
Successor
    
Predecessor
  
   
January 31,
   
October 31,
  
(in thousands)
  
2019
    
2018
  
Land, building and improvements
   $
23,285
     $
22,244
  
Capital leases—land and buildings
    
827
      
909
  
Machinery and equipment
    
205,797
      
237,094
  
Transportation equipment
    
1,080
      
3,297
  
Furniture and office equipment
    
654
      
1,486
  
     
231,643
      
265,030
  
Less accumulated depreciation
    
(3,503
)
    
(63,115
)
Property, plant and equipment, net
   $
228,140
     $
201,915
  
 
Depreciation expense for the Successor period from
December 6, 2018
to
January 31, 2019
was
$3.5
million of which approximately all was included in cost of operations. Depreciation expense for the Predecessor periods from
November 1, 2018
to
December 5, 2018
and from
November 1, 2017
to
January 31, 2018
were
$2.1
million and
$4.0
million, respectively, of which approximately all was included in cost of operations. In conjunction with the Business Combination, the basis of all property, plant and equipment was reset at fair value with
no
accumulated depreciation as of
December 6, 2018.
As such, there is a significant decline in the accumulated depreciation from
October 1, 2018
to
January 31, 2019.
 
Note
6.
Property, Plant and Equipment
 
The significant components of property, plant and equipment as of
October 31, 2018
and
2017,
are as follows:
 
 
 
2018
 
 
2017
 
 
 
 
 
 
 
 
Land, buildings and improvements
 
$
22,244,120
 
 
$
21,986,324
 
Capital leases—land and buildings
 
 
909,250
 
 
 
909,250
 
Machinery and equipment
 
 
237,093,975
 
 
 
199,185,640
 
Transportation equipment
 
 
3,297,160
 
 
 
2,961,147
 
Furniture and office equipment
 
 
1,485,535
 
 
 
888,504
 
 
 
 
265,030,040
 
 
 
225,930,865
 
Less accumulated depreciation
 
 
(63,114,600
)
 
 
(50,388,730
)
Property, plant and equipment, net
 
$
201,915,440
 
 
$
175,542,135
 
 
Depreciation expense for the years ended
October 31, 2018,
2017
and
2016,
was
$17,718,814,
$19,338,884
and
$16,635,995,
respectively, of which
$17,033,781,
$18,691,578,
$16,311,540
respectively, was included in cost of operations and
$685,033,
$647,306
and
$324,455
respectively, was included in general and administrative expenses.