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Property and Equipment

12 Months Ended

Dec. 01, 2012

10. Property and Equipment

Property and equipment consist of:

	Estimated Useful Lives	Dec. 1, 2012			Dec. 3, 2011

Land		$	437		$	437
Land improvements	10 to 20 years		1,561			1,561
Buildings and improvements	10 to 40 years		1,857			1,842
Machinery and equipment	3 to 20 years		12,300			12,129

			16,155			15,969
Accumulated depreciation			(14,030	)		(13,721	)

		$	2,125		$	2,248

Total depreciation expense related to property and equipment in fiscal 2012, fiscal 2011 and fiscal 2010 was $362, $417 and $508, respectively.

As a result of winter storms early in fiscal 2011, some of Imperial's hoop houses collapsed and a portion of the plants stored in the damaged hoop houses became unsaleable. There was no charge to earnings for the damaged hoop houses because they were fully depreciated prior to the start of fiscal 2011. A gain on insurance recovery of $479 related to the insurance proceeds received for the damaged hoop houses is included in Griffin's fiscal 2011 consolidated statement of operations (see Note 5).

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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