Property, Plant, and Equipment

3 Months Ended

Aug. 25, 2024

Property, Plant and Equipment [Abstract]

Property, plant, and equipment consists of the following:


	August 25, 2024		May 26, 2024
Land and land improvements	$	3,739	$	3,739
Buildings and building improvements	62,887		62,874

Machinery and equipment	61,249		61,013
Computer equipment and software	8,306		8,290
Furniture and fixtures	1,642		1,631
Construction in process	63,260		61,385
Gross property, plant, and equipment	201,083		198,932
Less accumulated depreciation and amortization	(52,327)		(50,334)
Net property, plant, and equipment	$	148,756	$	148,598

The major components of the construction in process are related to two multi-head aseptic filler production lines, including the associated building modifications, to significantly increase manufacturing capacity.

Depreciation and amortization expense for property, plant, and equipment for the three months ended August 25, 2024 and August 27, 2023 was $1,993 and $1,947, respectively.

Capitalized interest on construction projects was $711 and $969 for three months ended August 25, 2024 and August 27, 2023, respectively. Interest is capitalized based on the average outstanding construction in process balance, excluding previously capitalized interest, using a 10% interest rate.

Property, plant, and equipment acquisitions that provide a benefit over several years, and exceed five thousand dollars, are capitalized. The depreciation policy for property, plant, and equipment is as follows:


	Depreciable Lives (in years)
Land improvements	10	—	40
Buildings and building improvements	7	—	40
Machinery and equipment	7	—	25
Transportation equipment	5	—	12
Computer hardware and software	3	—	10
Furniture, fixtures, and office equipment	5	—	10
Tools, molds, and dies	3