Property, plant and equipment

6 Months Ended

Jun. 30, 2014

(5) Property, plant and equipment

Property, plant and equipment consisted of the following:

	June 30, 2014		December 31, 2013

Land and improvements	$	2,884,462	$	3,049,765
Buildings and improvements		18,325,355		19,788,447
Equipment		2,313,515		1,306,597
Construction in progress		170,013		425,424


		23,693,345		24,570,233
Less accumulated depreciation		2,667,729		1,722,379


	$	21,025,616	$	22,847,854

Depreciation expense was $554,194 and $1,065,838 for three and six months ended June 30, 2014, respectively, and was $525,660 and $765,237 for three and six months ended June 30, 2013, respectively. Certain assets disposed of in 2014 reduced accumulated depreciation at June 30, 2014. See footnote (2) for dispositions.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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