PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Jan. 31, 2019

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

NOTE 8 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following at January 31, 2019 and 2018:

	2019		2018
Land and improvements	$	863	$	863
Building and improvements		6,000		5,427
Furniture, machinery and equipment		17,779		13,531
Trucks and other vehicles		4,918		4,293
Project development costs		2,149		210
		31,709		24,324
Less - accumulated depreciation		11,931		9,025
Property, plant and equipment, net	$	19,778	$	15,299

Project development costs have been incurred by the Company’s consolidated variable interest entity (see Note 3) in preparation for building a new gas-fired power plant. Such costs include engineering costs, professional fees and permitting fees. Depreciation for property, plant and equipment was $3.4 million, $2.8 million and $2.0 million for Fiscal 2019, 2018 and 2017, respectively, which amounts were charged substantially to selling, general and administrative expenses in each year. The costs of maintenance and repairs were $3.1 million, $2.4 million and $2.3 million for Fiscal 2019, 2018 and 2017, respectively, which amounts were charged substantially to selling, general and administrative expenses each year as well.