Property, Plant and Equipment

9 Months Ended

Sep. 30, 2019

Property Plant And Equipment [Abstract]

Note 4 – Property, Plant and Equipment:

	September 30,			December 31,
	2019			2018
Refrigeration Equipment	$	95,558,455		$	79,567,389
Machinery and Equipment		54,140,430			51,800,479
Building, Land, and Improvements		25,621,495			25,606,013
Furniture and Office Equipment		5,457,585			4,884,945
Leasehold Improvements		412,979			393,770
Automotive Equipment		319,496			319,496
Construction in Progress		31,167,993			4,769,268
		212,678,433			167,341,360
Less: Accumulated Depreciation		(75,989,886	)		(65,247,112	)
	$	136,688,547		$	102,094,248

Depreciation expense related to property, plant and equipment totaled $3,975,822 and $11,462,514 for the three and nine months ended September 30, 2019, respectively, of which $1,598,843 and $4,753,623 was recorded to cost of goods sold for the three and nine months ended September 30, 2019, respectively, with the remainder of depreciation and amortization expense recorded to selling, general and administrative expense. Due to the continued growth of Freshpet’s sales, the Company has undertaken a capital expansion project at its Freshpet Kitchens manufacturing facility to expand plant capacity and increase distribution. The Company invested $21.0 million in the Freshpet Kitchens 2.0 project and other expansion projects during the first nine months of 2019.

Depreciation expense related to property, plant and equipment totaled $3,549,460 and $10,208,173 for the three and nine ended September 30, 2018, respectively, of which $1,579,278 and $4,568,607 was recorded to cost of goods sold for the three and nine months ended September 30, 2018, respectively, with the remainder of depreciation and amortization expense recorded to selling, general and administrative expense.