americOLD Global Market Leadership and Growth Strategy
Strategic Investment Approach to Maintain a High-Quality Portfolio
Capital expenditures ensure that our temperature-controlled warehouses meet the "mission-critical" role they serve in the cold chain
As a % of Total Warehouse NOI before R&M Expense
2017A
Total Spend
$103mm
13.1%
12.4%
1.0%
0.5%
11.0%
2018A
Total Spend
$96mm
12.3%
10.3%
0.7%
7.8%
0.7%
7.6%
8.8%
5.4%
Recurring
Capex
(Capitalized)
(1)
R&M
(2)
Expense
(Expensed - P/L)
4.6%
Recurring
R&M
(1)
Capex
(Capitalized)
(2)
Expense
(Expensed P/L)
Real Estate
Personal Property
Information Technology
2019A
Total Spend
$115mm
11.8%
11.0%
0.8%
0.9%
10.1%
Recurring
Capex
(Capitalized)
6.6%
4.4%
(1)
R&M
Expense (2)
(Expensed - P/L)
Note: Dollars in millions. Figures may not sum due to rounding
(1)
(2)
Recurring capital expenditures are incurred to extend the life of, and provide future economic benefit from, our existing temperature-controlled warehouse network and its existing supporting personal property
and information technology systems. Examples include replacing roof and refrigeration equipment, re-racking warehouses and implementing energy efficient projects. Personal property capital expenditures
include material handling equipment (e.g. fork lifts and pallet jacks) and related batteries. Information technology expenditures include expenditures on existing servers, networking equipment and current
software
Repairs and maintenance expense includes costs of normal maintenance and repairs and minor replacements that do not materially extend the life of the property or provide future economic benefits. Examples
include ordinary repair and maintenance on roofs, racking, walls, doors, parking lots and refrigeration equipment. Personal property expense includes ordinary repair and maintenance expenses on material
handling equipment (e.g. fork lifts and pallet jacks) and related batteries
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