Property and Equipment

9 Months Ended

Sep. 01, 2012

Property and Equipment

Property and Equipment

8.Property and Equipment

Property and equipment consist of:

	Estimated Useful Lives	September 1, 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	12,264			12,129
		16,104			15,969
Accumulated depreciation		(13,951		)	(13,721		)
		$	2,153		$	2,248

As a result of winter storms early in the 2011 nine month period, 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 nine month period 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 and $38, respectively, in the 2012 nine month period and 2011 nine month period.