v3.23.2
Note 8 - Property, Plant and Equipment
 6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

Note 8.  Property, Plant & Equipment

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Property, plant and equipment consisted of the following for the periods indicated (in thousands):

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June 30, 2023

  

December 31, 2022

 

Land improvements

 $806  $806 

Buildings and improvements

  85,342   86,372 

Machinery and equipment

  247,242   251,216 

Furniture and fixtures

  5,346   5,382 

Computer equipment and software

  11,587   11,713 

Transportation equipment

  661   679 

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  350,984   356,168 

Less accumulated depreciation and amortization

  (183,479)  (177,519)

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  167,505   178,649 

Construction in progress

  29,273   30,434 

Land

  1,101   1,101 

Total property, plant and equipment, net

 $197,879  $210,184 

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For the three months ended June 30, 2023 and 2022, the depreciation expense of property, plant and equipment was $5.0 million and $5.7 million, respectively. For the six months ended June 30, 2023 and 2022, the depreciation expense of property, plant and equipment was $10.2 million and $11.7 million, respectively. For the three months ended June 30, 2023 and 2022, the capitalized interest was $0 million and $0.2 million, respectively. 

 

As of June 30, 2023, the Company concluded that its continued loss history constitutes a triggering event as described in ASC 360-10-35-21,Property, Plant, and Equipment.  The Company performed a recoverability test and concluded that future undiscounted cash flows exceed the carrying amount of the Company’s long-lived assets and therefore no impairment charge was recorded.