Note 7 - Property, Plant and Equipment

9 Months Ended

Jan. 31, 2024

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

7. Property, Plant and Equipment

Property, plant and equipment is comprised of the following:

	January 31, 2024			April 30, 2023
Land	$	4,751		$	4,751
Building and improvements		49,448			47,867
Aircraft		4,046			8,515
Machinery and equipment		6,949			5,547
Office furniture and fixtures		14,448			13,881
Leasehold improvements		4,032			4,032
		83,674			84,593
Accumulated depreciation		(24,289	)		(25,526	)
Total property, plant and equipment	$	59,385		$	59,067

Property and Related Depreciation: Machinery and equipment are recorded at cost and depreciated over their estimated useful lives. Depreciation is provided on a straight-line basis. Depreciation expense was $3,112 for the nine months ended January 31, 2024 and $2,882 for the nine months ended January 31, 2023. Depreciation expense is included in cost of sales and general and administrative costs.

Description	Estimated useful life
Building and improvements	39 years or the shorter of the estimated useful life of the asset or the underlying lease term
Aircraft	5 years
Machinery and equipment	5 years
Office furniture and fixtures	5 years
Leasehold improvements	Shorter of the estimated useful life of the asset or the underlying lease term

Maintenance and repairs are charged to expense as incurred. The cost and accumulated depreciation of assets retired are removed from the accounts and any resulting gains or losses are reflected as income or expense.