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Property, Plant, and Equipment, net | 6 Months Ended
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Nov. 24, 2024
Property, Plant and Equipment [Abstract] |
Property, Plant, and Equipment, net | Property, Plant, and Equipment, net Property, plant, and equipment, net, consists of the following:
| November 24, 2024 |  | May 26, 2024
Land and land improvements | $ | 3,739 |  |  | $ | 3,739 |
Buildings and building improvements | 63,796 |  |  | 62,874 |
Machinery and equipment | 62,661 |  |  | 61,013 |
Computer equipment and software | 8,496 |  |  | 8,290 |
Furniture and fixtures | 1,641 |  |  | 1,631 |
Construction in process | 64,614 |  |  | 61,952 |
Property, plant, and equipment, gross | 204,947 |  |  | 199,499 |
Less accumulated depreciation and amortization | (54,371) |  |  | (50,334) |
Property, plant, and equipment, net | $ | 150,576 |  |  | $ | 149,165 |
The major components of the construction in process are related to aseptic filler production to significantly increase manufacturing capacity. Depreciation and amortization expense for property, plant, and equipment for the three months ended November 24, 2024 and November 26, 2023 was $2,044 and $1,987, respectively. Depreciation and amortization expense for property, plant, and equipment for the six months ended November 24, 2024 and November 26, 2023 was $4,037 and $3,934, respectively. Interest is capitalized based on the average outstanding construction in process balance, excluding previously capitalized interest, using a 10% interest rate. Capitalized interest on construction projects was $745 and $1,094 for three months ended November 24, 2024 and November 26, 2023, respectively. Capitalized interest on construction projects was $1,456 and $2,063 for six months ended November 24, 2024 and November 26, 2023, respectively. Capitalized interest has decreased as we consider alternative approaches to generating cash flows from a legacy asset that has not yet generated revenue. 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

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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://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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