PROPERTY, PLANT AND EQUIPMENT |
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Property, Plant and Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PROPERTY, PLANT AND EQUIPMENT | 11. PROPERTY, PLANT AND EQUIPMENT As of June 27, 2025, and September 30, 2024, property, plant and equipment and accumulated depreciation were as follows:
Depreciation expense for the three months ended June 27, 2025 and June 28, 2024 totaled $18,925 and $16,716, respectively. Depreciation expense for the nine months ended June 27, 2025 and June 28, 2024 totaled $55,631 and $46,503, respectively. During the second quarter of fiscal 2025, the Company recorded non-cash impairment charges totaling $31,766 related to certain long-lived assets related to its HDPE pipe and conduit products, primarily fixed assets and definite-lived intangible assets. An impairment charge of $2,918 was recorded to buildings and related improvements, $8,662 was recorded to construction in progress, $1,548 was recorded to leasehold improvements and $18,638 was recorded to machinery and equipment. Refer to Note 14 “Fair Value Measurements” for further discussion of the Company’s impairment review. No impairment was recorded during the nine months ended June 28, 2024. As a result of the asset impairment charge, the book basis of the HDPE fixed assets was adjusted to the new fair value. This resulted in the elimination of previously accumulated depreciation of $13,257, as well as an equivalent reduction in gross fixed assets for an equal amount.
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