Property and Equipment

3 Months Ended

Mar. 03, 2012

Property and Equipment

Property and Equipment

8.     Property and Equipment

Property and equipment consist of:

	Estimated Useful Lives	March 3, 2012			December 3, 2011
Land		$	437		$	437
Land improvements	10 to 20 years	1,561			1,561
Buildings and improvements	10 to 40 years	1,842			1,842
Machinery and equipment	3 to 20 years	12,207			12,129
		16,047			15,969
Accumulated depreciation		(13,814		)	(13,721		)
		$	2,233		$	2,248

In the 2011 first quarter, as a result of winter storms, some of Imperial’s hoop houses collapsed and a portion of the plants stored in the damaged hoop houses became unsaleable.  There was no charge to earnings for the damaged hoop houses because they were fully depreciated prior to the start of fiscal 2011.  A gain on insurance recovery of $200 related to the initial insurance proceeds received for the damaged hoop houses is included in Griffin’s 2011 first quarter consolidated statement of operations.  The claim was settled in the 2011 fourth quarter and an additional $279 of insurance proceeds was received at that time (see Notes 5 and 11).

Griffin incurred new capital lease obligations of $54 in the 2012 first quarter.  Griffin did not incur any new capital lease obligations in the 2011 first quarter.