Property, Plant and Equipment

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment

Property, Plant and Equipment

4.           Property, Plant and Equipment

	March 31,		December 31,
	2020		2019
	($000’s omitted)
Land	$	7	$	7
Buildings		11,027		11,017
Machinery, equipment and tooling		20,894		20,695
Construction in progress		535		331
		32,463		32,050
Less accumulated depreciation		(19,684)		(19,333)
Property, plant and equipment, net	$	12,779	$	12,717

Depreciation and amortization expense amounted to approximately $354,000 and $274,000 for the three months ended March 31, 2020 and 2019, respectively.  Depreciation expense amounted to approximately $336,000 and $254,000 for the three months ended March 31, 2020 and 2019, respectively.  Amortization expense primarily related to capital leases amounted to approximately $18,000 and $20,000 for the three months ended March 31, 2020 and 2019, respectively.  The Company maintains property and casualty insurance in amounts adequate for the risk and nature of its assets and operations and which are generally customary in its industry.

As of March 31, 2020, there is approximately $535,000 ($331,000 – December 31, 2019) of construction in progress (CIP) included in property, plant and equipment all of which is related to capital projects. There is approximately $302,000 in CIP for the machinery and equipment and self-constructed assets ($280,000 – December 2019), $49,000 of computer equipment ($32,000 – December 2019) and $184,000 for building improvements  ($19,000 – December 2019) primarily related to the Advance Technology Group.