Note 8 - Property, Plant and Equipment

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note 8.  Property, Plant & Equipment

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

	September 30, 2020			December 31, 2019
Land improvements	$	806		$	806
Building and improvements		86,524			83,846
Machinery and equipment		244,976			237,464
Furniture and fixtures		5,444			5,105
Computer equipment and software		11,355			10,506
Transportation equipment		676			658
		349,781			338,385
Less accumulated depreciation and amortization		(133,561	)		(116,979	)
		216,220			221,406
Construction in progress		32,419			25,937
Land		1,101			1,101
Total property, plant and equipment, net	$	249,740		$	248,444

For the three months ended September 30, 2020 and 2019, depreciation expense of property, plant and equipment was $6.1 million and $5.9 million, respectively. For the nine months ended September 30, 2020 and 2019, depreciation expense of property, plant and equipment was $17.9 million and $17.6 million, respectively. For the three and nine months ended September 30, 2020, the capitalized interest was $0.1 million and $0.3 million, respectively.

As of September 30, 2020, 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.