Quarterly report pursuant to Section 13 or 15(d)

Note 6 - Property, Plant and Equipment

v3.21.2
Note 6 - Property, Plant and Equipment
9 Months Ended
Jul. 31, 2021
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

Note 6. Property, Plant and Equipment

 

The significant components of property, plant and equipment at  July 31, 2021 and at  October 31, 2020 are comprised of the following:

 

   

July 31,

   

October 31,

 

(in thousands)

 

2021

   

2020

 

Land, building and improvements

  $ 26,809     $ 26,728  

Capital leases—land and buildings

    828       828  

Machinery and equipment

    345,364       318,029  

Transportation equipment

    2,859       2,338  

Furniture and office equipment

    2,764       1,230  

Property, plant and equipment, gross

    378,624       349,153  

Less accumulated depreciation

    (64,034 )     (44,899 )

Property, plant and equipment, net

  $ 314,590     $ 304,254  

 

Depreciation expense for the three and nine month periods ended July 31, 2021 was $7.2 million and $21.2 million, respectively. Depreciation expense for the three and nine month periods ended July 31, 2020 was $6.5 million and $19.5 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 our capital leases and furniture and fixtures is included in general and administrative expenses.