PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET:

The major classifications of the Company’s fixed assets are as follows at December 31 (in thousands):



	2011			2010
Construction in progress	$	106,353		$	10,460
Office furniture, fixtures and equipment	5,747			4,946
Buildings and improvements	818			770
	112,918			16,176
Accumulated depreciation	(4,074		)	(3,586		)
Property and equipment, net	$	108,844		$	12,590

Construction in progress represents amounts capitalized for construction and equipment for the canola seed crushing plant being built in Hallock, Minnesota. The plant is estimated to cost approximately $158 million and is expected to be completed and placed in service in the third quarter of 2012.

Depreciation expense was $585,000, $448,000, and $373,000 for the years ended December 31, 2011, 2010, and 2009, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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