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Property, Plant and Equipment, Net

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

Property, Plant and Equipment, Net.

Property, Plant and Equipment, Net

Note 7. Property, Plant and Equipment, Net

The following table summarizes property, plant and equipment, net:

​

​	​	​	​	​	​	​	​	​
(Thousands)		Depreciable Lives		September 30, 2022			December 31, 2021
Land	​	​	​	$	9,092	​	$	9,150
Buildings	​	10 - 40 years	​	​	44,274	​	​	43,895
Leasehold improvements(1)	​	​	​	​	923	​	​	613
Plant equipment	​	3 - 15 years	​	​	90,912	​	​	88,155
Vehicles and transportation equipment	​	3 - 5 years	​	​	753	​	​	876
IT systems	​	3 - 7 years	​	​	2,475	​	​	2,453
Furniture and fixtures	​	3 - 10 years	​	​	2,890	​	​	2,746
Customer beverage equipment(2)	​	3 - 5 years	​	​	21,879	​	​	24,341
Lease right-of-use assets(3)	​	​	​	​	10	​	​	—
Construction in progress and equipment deposits	​	​	​	​	23,775	​	​	8,025
​	​	​	​	​	196,983	​	​	180,254
Less: accumulated depreciation	​	​	​	​	(62,852)	​	​	(52,641)
Property, plant and equipment, net	​	​	​	$	134,131	​	$	127,613

(1) Leasehold improvements are amortized over the shorter of their estimated useful lives or the related lease life.

(2) Customer beverage equipment consists of brewers held on site at customer locations.

(3) Lease right-of-use assets are amortized over the shorter of the useful life of the asset or the lease term.

​

Depreciation expense for the three and nine months ended September 30, 2022 was $4.1 million and $12.7 million, respectively, and depreciation expense for the three and nine months ended September 30, 2021 was $4.4 million and $13.4 million, respectively. Assets classified as construction in progress and equipment deposits are not depreciated, as they are not ready for production use. All assets classified as construction in progress and equipment deposits at September 30, 2022 are expected to be in production use.

Note 9. Property, Plant and Equipment, Net

The following table summarizes property, plant and equipment, net as of December 31, 2021 and 2020:

​

​	​	​	​	​	​	​	​	​
(Thousands)		Depreciable Lives		December 31, 2021			December 31, 2020
Land	​	​	​	$	9,150	​	$	8,010
Buildings	​	10 – 40 years	​	​	43,895	​	​	35,028
Leasehold improvements(1)	​	​	​	​	613	​	​	399
Plant equipment	​	3 – 15 years	​	​	88,155	​	​	74,363
Vehicles and transportation equipment	​	3 – 5 years	​	​	876	​	​	910
IT systems	​	3 – 7 years	​	​	2,453	​	​	2,195
Furniture and fixtures	​	3 – 10 years	​	​	2,746	​	​	2,318
Customer beverage equipment(2)	​	3 – 5 years	​	​	24,341	​	​	26,507
Construction in progress and equipment deposits	​	​	​	​	8,025	​	​	13,372
​	​	​	​	​	180,254	​	​	163,102
Less: accumulated depreciation	​	​	​	​	(52,641)	​	​	(36,828)
Property, plant and equipment, net	​	​	​	$	127,613	​	$	126,274

(1) Leasehold improvements are amortized over the shorter of their estimated useful lives or the related lease life.

(2) Customer beverage equipment consists of brewers held on site at customer locations.

Depreciation expense for the years ended December 31, 2021 and 2020 was $18.8 million and $18.2 million, respectively. Assets classified as Construction in progress are not depreciated, as they are not ready for production use. All assets classified as construction in progress on December 31, 2021 are expected to be in production use.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
-SubTopic 360
-Section 50
-Paragraph 6
-URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916

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-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
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-URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 958
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