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LIFECORE BIOMEDICAL, INC. \DE\

For the period ended Feb 23, 2025. Filed Apr 3, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Feb 23, 2025 · Filed Apr 3, 2025

LFCR$6.370.0%Stored close · as of Nov 10, 2026

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Property, plant, and equipment, net

  1. Property, plant, and equipment, net

All property, plant and equipment is located in the United States. Property, plant, and equipment, net, consists of the following:

February 23,2025May 26,2024
Land and land improvements$3,739$3,739
Buildings and building improvements63,73262,874
Machinery and equipment61,35761,013
Computer equipment and software8,6128,290
Furniture and fixtures1,6351,631
Construction in process40,19639,151
Idle construction in process4,45022,801
Property, plant, and equipment, gross183,721199,499
Less: accumulated depreciation and amortization(55,498)(50,334)
Property, plant, and equipment, net$128,223$149,165

The major components of the construction in process are related to aseptic filler production to significantly increase manufacturing capacity.

On January 7, 2025, the Company entered into an agreement for the sale of the Company's previously purchased, but not yet installed, isolator-filler. The aggregate purchase price was$17,000. Lifecore received$7,000 cash and paid fees of$752 at closing. Lifecore also accepted a note for the remainder of the proceeds (see note 4) and recorded current and noncurrent payables of$800 and$200, respectively, for remaining selling fees to be paid to a third-party broker. The sale resulted in a $21,239 reduction in idle construction in process. The Company recorded a loss on the sale of the equipment of$6,400, which is included with other losses of$451 and$495 for the three and nine months ended February 23, 2025, respectively, in loss on sale or disposal of assets, net of portion classified as cost of sales, within the statement of operations. The Company also recognized other losses on disposal of assets of$790 as cost of sales within the statement of operations.

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Depreciation and amortization expense for property, plant, and equipment for the three months ended February 23, 2025 and February 25, 2024 was $2,076 and $2,006, respectively. Depreciation and amortization expense for property, plant, and equipment for the nine months ended February 23, 2025 and February 25, 2024 was $6,113 and $5,940, respectively.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.