[mseebach]

Profit is how much your total assets have increased in value. Cash is an asset and a warehouse is an asset. If you spend $1m of your cash that would otherwise have been cash profits to build a warehouse worth $1m, your total assets remain the same and thus your profits remain the same.

But, unlike cash, a building doesn't retain its (dollar) value forever, it must be written off. I'm not sure how buildings are written off since they have a rather long "shelf" life, but laptops are generally written off over three year. So if you buy a $1500 laptop with cash in year 0, your profits in year zero are unaffected, but you must book a depreciation (a reduction in the value of your assets) worth $500 in years 1, 2 and 3. Hopefully you will, as with your warehouse, use your new asset to book profits in each of these years in excess of your write-offs.