Note 6 - Property, Plant and Equipment

9 Months Ended

Sep. 30, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Note 6 — Property, Plant and Equipment

Property, plant and equipment at September 30, 2017 and December 31, 2016 was:

	September 30,		December 31,
	2017		2016
	(In thousands)
Land	$	1,316	$	1,316
Buildings and improvements		38,241		37,356
Machinery and equipment		190,949		186,863
Vehicles		1,830		1,830
Nondepreciable machinery and equipment (parts and spares)		12,397		11,976
Construction-in-process		124,314		81,101
	$	369,047	$	320,442

In January 2016, the Company received $1.9 million of proceeds from an economic incentive related to the construction of the South Carolina facility. While there currently are no US GAAP pronouncements relating to the accounting treatment of government grants, the Company recorded these proceeds as a reduction in the property, plant and equipment related to this project in accordance with non-authoritative guidance issued by the American Institute of Certified Public Accountants, which recommended that grants related to developing property be recognized over the useful lives of the assets by recognizing receipt as the related asset is depreciated.

Interest expense for three months ended September 30, 2017 and 2016, excludes $1.6 million and $0.3 million, respectively, of interest capitalized on significant projects during the quarter. Capitalized interest for nine months ended September 30, 2017 and 2016, was $3.5 million and $1.2 million, respectively.