Lineage Inc
For the period ended Jun 30, 2024. Filed Aug 21, 2024.
View on SEC.govAbout this filing
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.
Jun 30, 2024 · Filed Aug 21, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Property, plant, and equipment
(5)Property, plant, and equipment
Property, plant, and equipment, net consists of the following:
| (in millions) | June 30, 2024 | December 31, 2023 | Estimated Useful Life (Years) |
|---|---|---|---|
| Buildings, building improvements, and refrigeration equipment | $8,568 | $8,545 | 1 — 40 |
| Land and land improvements | 1,477 | 1,446 | 15 — Indefinite |
| Machinery and equipment | 1,341 | 1,316 | 5 — 20 |
| Railcars | 540 | 535 | 7 — 50 |
| Furniture, fixtures, and equipment | 611 | 563 | 1 — 7 |
| Gross property, plant, and equipment | 12,537 | 12,405 | |
| Less accumulated depreciation | (2,541) | (2,266) | |
| Construction in progress | 495 | 432 | |
| Property, plant, and equipment, net | $10,491 | $10,571 |
For the three and six months ended June 30, 2024, the Company recorded impairment charges of $29 million, $24 million of which was related to losses from the warehouse fire in Kennewick, Washington (refer to Note 16, Commitments and contingencies for details) and $4 million of which was related to losses on properties classified as held for sale. For the three and six months ended June 30, 2023, the Company recorded impairment charges relating to property, plant, and equipment of $1 million and$2 million, respectively. Impairment charges are included in Restructuring, impairment, and (gain) loss on disposals in the condensed consolidated statements of operations and comprehensive income (loss).
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.