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Property, Plant and Equipment
12 Months Ended
Oct. 31, 2024
Property, Plant and Equipment.  
Property, Plant and Equipment

Note 8. Property, Plant and Equipment

Property, plant and equipment as of October 31, 2024 and 2023 consisted of the following (in thousands):

    

October 31,

October 31,

Estimated 

2024

2023

Useful Life

Land

$

524

$

524

Building and improvements

 

26,581

 

21,430

 

10‑26 years

Machinery, equipment and software

 

144,242

 

136,554

 

3‑8 years

Furniture and fixtures

 

5,451

 

5,211

 

10 years

Construction in progress

 

68,588

 

33,950

 

 

245,386

 

197,669

Accumulated depreciation

 

(114,700)

 

(108,001)

 

  

Property, plant and equipment, net

$

130,686

$

89,668

 

  

The Company recorded an impairment charge of approximately $1.0 million during the year ended October 31, 2022 (related to the cessation of operations at a conditioning facility in Danbury, CT, which was replaced by a new conditioning facility located at our Torrington, CT manufacturing facility). There were no impairments of property, plant and equipment for the years ended October 31, 2024 and 2023.

Depreciation expense for property, plant and equipment was $8.0 million, $5.1 million and $5.8 million for the years ended October 31, 2024, 2023 and 2022, respectively.