v3.25.2
Summary of Significant Accounting Policies
12 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Property, Plant and Equipment Disclosure Property, Plant and Equipment
The following table presents the components of our property, plant and equipment, net at June 30, 2025 and 2024:
June 30,
2025
June 30,
2024
(In thousands)
Property, plant and equipment
Land and buildings$38,158 $32,610 
Construction equipment78,395 76,603 
Transportation equipment38,362 41,075 
Office equipment and software30,590 34,154 
Finance Lease32 33 
Construction in progress2,869 4,948 
Total property, plant and equipment188,406 189,423 
Accumulated depreciation(146,309)(145,925)
Property, plant and equipment, net$42,097 $43,498 
During fiscal 2024, we sold a previously utilized facility in Burlington, Ontario for $2.7 million in net proceeds, which resulted in a gain of $2.5 million. We closed this previously utilized facility because it was no longer strategic to the future of the business.
During fiscal 2024, we also sold a facility in Catoosa, Oklahoma for $2.7 million in net proceeds, which resulted in a gain of $2.0 million. The facility was previously utilized for our industrial cleaning business, which was sold in fiscal 2023. The gains from these asset sales were included in Other income in the Consolidated Statements of Income.
During fiscal 2024, we purchased a facility in Bakersfield, California for $4.1 million to replace a facility that was being leased.
During fiscal 2023, we sold our industrial cleaning business for net proceeds of $6.3 million in cash and a $0.4 million receivable for amounts to be paid upon satisfactory transfer of title of certain vehicles and equipment sold. The sale resulted in a $2.9 million gain, which was included in Other income in the Consolidated Statements of Income. The industrial cleaning business was included in our Process and Industrial Facilities segment and was disposed of because its operations were no longer core to our growth strategy.
Depreciation expense totaled $8.9 million, $9.6 million, and $12.0 million in fiscal 2025, 2024 and 2023, respectively.