COLUMBUS MCKINNON CORP
For the period ended Mar 31, 2024. Filed May 29, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed May 29, 2024
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Property, Plant, and Equipment
- Property, Plant, and Equipment
Consolidated property, plant, and equipment of the Company consisted of the following:
| March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Land and land improvements | $5,460 | $5,467 |
| Buildings | 66,683 | 60,899 |
| Machinery, equipment, and leasehold improvements | 253,643 | 249,379 |
| Construction in progress | 23,426 | 10,344 |
| 349,212 | 326,089 | |
| Less accumulated depreciation | 242,817 | 231,729 |
| Net property, plant, and equipment | $106,395 | $94,360 |
The acquisition of montratec contributed $7,478,000 to the increase in property, plant, and equipment since March 31, 2023.
Depreciation expense was $16,549,000, $15,946,000, and $16,639,000 for the years ended March 31, 2024, 2023, and 2022, respectively.
Gross property, plant, and equipment includes capitalized software costs of 40,881,000 and $43,826,000 at March 31, 2024 and 2023, respectively. Accumulated depreciation includes accumulated amortization on capitalized software costs of 28,443,000 and $29,809,000 at March 31, 2024 and 2023, respectively. Amortization expense on capitalized software costs was $1,510,000, $2,132,000, and $2,399,000 during the years ended March 31, 2024, 2023, and 2022, respectively.
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