Property, Buildings and Equipment

12 Months Ended

Dec. 31, 2019

Property Plant And Equipment [Abstract]

Property, Buildings and Equipment

Note 5 – Property, Buildings and Equipment

The following table presents the balances of major classes of properties as of December 31 as indicated:

	Estimated useful lives in years		2019		2018
Land		—	$	2,047,449	$	670,400
Land improvements	7 - 15			650,932		537,175
Buildings and improvements	5 - 40			2,815,440		2,767,603
Leasehold improvements	5 - 39			253,733		254,385
Machinery and equipment	2 - 10			100,988,697		87,734,262
Construction in progress		—		221,896		23,313
Total				106,978,147		91,987,138
Less accumulated depreciation				51,904,568		43,060,083
Net properties, buildings and equipment			$	55,073,579	$	48,927,055

Management reviews the net carrying value of all properties, buildings and equipment on a regular basis to assess and determine whether trigger events of impairment exist and the need for possible impairments. As a result of such review, no impairment write-down was considered necessary for the years ended December 31, 2019 and 2018.