| PROPERTY, PLANT AND EQUIPMENT |
NOTE 6 – PROPERTY, PLANT AND EQUIPMENT Presented in the table below are the major classes of property, plant and equipment by category as of the below dates:
|
|
|
|
|
|
|
|
|
|
|
(dollars in thousands) |
|
Estimated Useful Life (Years) |
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Buildings |
|
10 - 40 |
|
$ |
84,846 |
|
|
$ |
84,757 |
|
Machinery and equipment |
|
3 - 30 |
|
|
387,053 |
|
|
|
386,572 |
|
Leasehold improvements |
|
2 - 15 |
|
|
4,829 |
|
|
|
4,829 |
|
Fixtures and furnishings |
|
5 - 7 |
|
|
764 |
|
|
|
764 |
|
Land improvements |
|
15 |
|
|
150 |
|
|
|
150 |
|
Land |
|
Indefinite |
|
|
1,150 |
|
|
|
1,150 |
|
Construction in progress |
|
N/A |
|
|
272,698 |
|
|
|
263,371 |
|
Total property, plant and equipment at cost |
|
|
|
|
751,490 |
|
|
|
741,593 |
|
Less: Accumulated depreciation |
|
|
|
|
(91,221 |
) |
|
|
(83,841 |
) |
Property, plant, and equipment, net |
|
|
|
$ |
660,269 |
|
|
$ |
657,752 |
|
Depreciation expense is recorded in the Condensed Consolidated Statements of Comprehensive (Loss)/Income as follows:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
(in thousands) |
|
2026 |
|
|
2025 |
|
Cost of operations |
|
$ |
6,577 |
|
|
$ |
6,519 |
|
Research and development |
|
|
778 |
|
|
|
774 |
|
Selling, general and administrative |
|
|
24 |
|
|
|
57 |
|
Total depreciation expense |
|
$ |
7,379 |
|
|
$ |
7,350 |
|
|