Note H - Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

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, 2023			December 31, 2022
Land improvements	$	806		$	806
Building and improvements		86,534			86,372
Machinery and equipment		257,842			251,216
Furniture and fixtures		5,449			5,382
Computer equipment and software		12,059			11,713
Transportation equipment		673			679
		363,363			356,168
Less accumulated depreciation and amortization		(194,086	)		(177,519	)
		169,277			178,649
Construction in progress		29,939			30,434
Land		1,101			1,101
Total property, plant and equipment, net	$	200,317		$	210,184

For the years ended December 31, 2023, 2022 and 2021, depreciation expense of property, plant and equipment was $19.7 million, $22.6 million, and $24.8 million, respectively. For the years  December 31, 2023, 2022 and 2021, the capitalized interest was $0 million, $0.2 million, and $0.9 million, respectively. 

As of December 31, 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.