Property, Plant, and Equipment, Net

9 Months Ended

Aug. 04, 2023

Property, Plant and Equipment [Abstract]


8			Property, Plant, and Equipment, Net

Property, plant, and equipment assets are carried at cost less accumulated depreciation. The company generally accounts 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 three to 15 years, tooling is generally depreciated over three to five years, and computer hardware and software and website 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. Costs associated with general maintenance and repairs are expensed as incurred within cost of sales or selling, general and administrative expense in the Condensed Consolidated Statements of (Loss) Earnings depending on the nature and use of the related asset. Interest is capitalized during the construction period for significant capital projects.

Property, plant, and equipment, net was as follows:


(Dollars in thousands)	August 4, 2023		July 29, 2022		October 31, 2022
Land and land improvements	$	63,020	$	57,169	$	59,550
Buildings and leasehold improvements	331,052		326,111		324,343
Machinery and equipment	585,337		535,303		557,588
Tooling	235,417		221,290		225,865
Computer hardware and software	108,211		96,834		104,713
Construction in process	204,317		141,503		144,418
Property, plant, and equipment, gross	1,527,354		1,378,210		1,416,477
Less: accumulated depreciation	902,391		846,394		844,816
Property, plant, and equipment, net	$	624,963	$	531,816	$	571,661