Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

PROPERTY, PLANT AND EQUIPMENT, NET

The major classifications of the Company’s property, plant and equipment are as follows (in thousands):

	December 31,
	2014			2013
Plant, equipment, buildings and leasehold improvements	$	133,777		$	131,141
Construction in progress	6,432			2,072
Office furniture, fixtures and equipment	5,862			6,862
	146,071			140,075
Accumulated depreciation and amortization	(25,054		)	(16,631		)
Property, plant and equipment, net	$	121,017		$	123,444

Depreciation and amortization expense was as follows (in thousands):

	Year Ended December 31,
	2014			2013			2012
Total depreciation and amortization expense	$	11,615		$	10,986		$	5,154
Amount allocated to inventory and cost of canola oil and meal sold	(8,382		)	(8,221		)	(3,187		)
Total reported depreciation and amortization	$	3,233		$	2,765		$	1,967

Impairment losses during 2014:

Due to the significant decline in crude oil prices during the fourth quarter of 2014, the Company completed an impairment analysis of the oil and gas wells owned by the Company’s oil and gas venture, Mendell Energy, LLC (“Mendell”), as of December 31, 2014. Based on the analysis, the Company wrote down the carrying value of oil wells capitalized to their estimated fair value, resulting in an impairment loss for the year ended December 31, 2014 of $4.4 million. The loss was reported in the consolidated statement of operations and comprehensive income or loss within impairment loss on intangible and long-lived assets and was included in the results of operations of the corporate segment.