TEAM INC - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - April 9, 2012

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v2.4.0.6
Property, Plant And Equipment
 9 Months Ended
Feb. 29, 2012
Property, Plant And Equipment [Abstract]  
Property, Plant And Equipment

6. PROPERTY, PLANT AND EQUIPMENT

A summary of property, plant and equipment as of February 29, 2012 and May 31, 2011 is as follows (in thousands):

 

     February 29, 2012     May 31, 2011  
     (unaudited)        

Land

    $ 6,013      $ 6,026   

Buildings and leasehold improvements

      9,569        9,386   

Machinery and equipment

      118,704        105,997   

Furniture and fixtures

      2,065        1,849   

Computers and computer software

      7,803        7,223   

Automobiles

      2,689        2,719   

Construction in progress

      6,870        3,582   
  

 

 

    

 

 

  

Total

      153,713        136,782   

Accumulated depreciation and amortization

      (87,988 )      (78,215 ) 
  

 

 

    

 

 

  

Property, plant and equipment, net

    $ 65,725      $ 58,567   
  

 

 

    

 

 

  

At February 29, 2012, there was $0.4 million of capitalized interest included in property, plant and equipment attributable to 50 acres purchased in October 2007 to construct future facilities in Houston, Texas. At February 29, 2012, total capitalized cost of the project, inclusive of the capitalized interest, property purchase and related development cost was $6.8 million. Due to the 2008 economic recession, we postponed construction of the future facilities until such time as economic conditions and our growth necessitate the addition of the new facilities. Starting in the third quarter of fiscal year 2009, we ceased to further capitalize interest until the project resumes.

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