Quarterly report pursuant to Section 13 or 15(d)

Note 7 - Property, Plant and Equipment

v3.20.1
Note 7 - Property, Plant and Equipment
 6 Months Ended
Apr. 30, 2020
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
April 30, 2020
and at
October 31, 2019
are comprised of the following:
 
   
April 30,
    
October 31,
  
(in thousands)
  
2020
    
2019
  
Land, building and improvements   $
26,572
     $
26,085
  
Capital leases—land and buildings    
828
      
828
  
Machinery and equipment    
304,206
      
295,741
  
Transportation equipment    
2,156
      
2,223
  
Furniture and office equipment    
1,075
      
1,209
  
Property, plant and equipment, gross    
334,837
      
326,086
  
Less accumulated depreciation    
(27,724
 )    
(18,671
 )
Property, plant and equipment, net
   $
307,113
     $
307,415
  
 
Depreciation expense for the
three
and
six
-month periods ended
April 30, 2020
was
$6.5
million and
$13.0
million, respectively. Depreciation expense for the Successor for the
three
-month period ended
April 30, 2019
and the period from
December 6, 2018
to
April 30, 2019
was
$5.2
million and
$8.7
million, respectively. Depreciation expense for the Predecessor from
November 1, 2018
to
December 5, 2018
was
$2.1
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.