Note H - Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

NOTE H—PROPERTY, PLANT AND EQUIPMENT

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

	December 31, 2022			December 31, 2021
Land improvements	$	806		$	806
Building and improvements		86,372			89,698
Machinery and equipment		251,216			266,386
Furniture and fixtures		5,382			5,658
Computer equipment and software		11,713			12,727
Transportation equipment		679			726
		356,168			376,001
Less accumulated depreciation and amortization		(177,519	)		(167,772	)
		178,649			208,229
Construction in progress		30,434			33,705
Land		1,101			1,101
Total property, plant and equipment, net	$	210,184		$	243,035

For the years ended December 31, 2022, 2021 and 2020, depreciation expense of property, plant and equipment was $22.6 million, $24.8 million, and $24.2 million, respectively. For the years  December 31, 2022, 2021 and 2020, the capitalized interest was $0.2 million, $0.9 million, and $0.4 million, respectively. 

As of December 31, 2022, 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.