Property and Depreciation

9 Months Ended

Aug. 02, 2019

Property, Plant and Equipment [Abstract]

Property, plant, and equipment assets are carried at cost less accumulated depreciation. The company provides for depreciation of property, plant and equipment utilizing the straight-line method over the estimated useful lives of the assets. Buildings and leasehold improvements are generally depreciated over 10 to 40 years, machinery and equipment are generally depreciated over two to 15 years, tooling is generally depreciated over three to five years, and computer hardware and software and web site development costs are generally depreciated over two to five years. Expenditures for major renewals and improvements, which substantially increase the useful lives of existing assets, are capitalized, and expenditures for general maintenance and repairs are charged to operating expenses as incurred. Interest is capitalized during the construction period for significant capital projects.

On April 1, 2019, with the acquisition of CMW, the company acquired $142.4 million of property, plant, and equipment, based on preliminary fair value purchase accounting adjustments. For additional information on the company's acquisition of CMW, refer to Note 2, Business Combinations.

Property, plant and equipment was as follows:



(Dollars in thousands)	August 2, 2019		August 3, 2018		October 31, 2018
Land and land improvements	$	55,786	$	38,117	$	39,607
Buildings and leasehold improvements	259,928		195,791		209,686
Machinery and equipment	420,262		342,294		349,550
Tooling	224,230		208,098		211,756
Computer hardware and software	91,577		90,070		83,338
Construction in Process	70,367		41,297		35,044
Gross property, plant, and equipment	1,122,150		915,667		928,981
Less: accumulated depreciation	695,735		666,165		657,522
Property, plant, and equipment, net	$	426,415	$	249,502	$	271,459