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Property, Plant and Equipment

6 Months Ended

Sep. 30, 2011

Property, Plant and Equipment

Property, Plant and Equipment

Note 5 - Property, Plant and Equipment

Our property, plant and equipment, net of depreciation, consists of the following as of the dates indicated:

		September 30,			March 31,
Description and Useful Life		2011			2011
		(in thousands)
Terminal assets (30 years)		$	18,716		$	18,933
Retail propane equipment (5-15 years)		31,735			30,360
Vehicles (5 years)		8,748			7,666
Information technology equipment (3 years)		734			678
Buildings (30 years)		7,463			7,053
Land (nondepreciable) and other (3-7 years)		4,356			4,201
		71,752			68,891
Less: Accumulated depreciation		5,347			2,871
Net property, plant and equipment		$	66,405		$	66,020

Depreciation expense was approximately $1.4 million and $0.5 million for the three months ended September 30, 2011 and 2010, respectively, and approximately $2.6 million and $1.0 million for the six months ended September 30, 2011 and 2010, respectively.

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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