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XYRATEX LTDNOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS (Continued)(U.S. dollars and amounts in thousands, except per share data, unless otherwise stated)6. InventoriesNovember 30,2005 2004Finished goods ..................................... $15,642 $ 9,955Work in progress ................................... 19,130 10,459Raw materials ..................................... 36,771 22,600$71,543 $43,0147. Property, Plant and Equipment, NetNovember 30,2005 2004Land........................................... $ 1,421 $ 1,421Buildings and leasehold improvements .................. 5,424 5,334Machinery and equipment ........................... 42,452 26,71449,297 33,469Accumulated depreciation ........................... (23,654) (18,974)$ 25,643 $ 14,495Depreciation expense during the years ended November 30, 2005, 2004 and 2003 was $6,694,$5,336 and $4,969, respectively. For the years ended November 30, 2005 and 2004 the Companydisposed of fully-depreciated machinery and equipment with a recorded cost of $1,997 and $179,respectively.8. Income TaxesThe provision (benefit) from income taxes from continuing operations is comprised as follows:Year Ended November 30,2005 2004 2003U.K. Current ................... $(1,876) $ 502 $ 775U.S. Current ................... 1,391 761 (114)Other jurisdictions Current ................... 162 207 1,123Deferred .................. 4,287 (7,709) (13,538)Total from continuing operations ............... $3,964 $ (6,239) $(11,754)F-23