Property, Plant And Equipment - PP&E

It's a line item on most corporate income statements and balance sheets. The line gets adjusted up or down in value all the time. We shout it out here, because it has the key characteristic that its assets are depreciable, meaning that a company could spend $100 million to buy a new plant (like factory smelting or battery stamping, not like Audrey 2 from Little Shop). That plant then gets depreciated over time. Like at a rate of, say, $5 million a year, so that depreciation then goes against earnings to the tune of $5 million a year (and it's a hedge against taxes as well, tyvm).