Property, Plant And Equipment

12 Months Ended

Dec. 31, 2011

Property, Plant And Equipment [Abstract]

NOTE 8

Property, Plant and Equipment

Property, plant and equipment are summarized as follows (in thousands):


	December 31,
	2011			2010
Work in progress	$	966		$	2,533
Building and improvements		12,963			138,464
Machinery and equipment		109,500			123,642
Land and improvements		3,551			8,312

		126,980			272,951
Less: accumulated depreciation		(86,059	)		(130,124	)

	$	40,921		$	142,827

In 2007, the Company completed a sale-leaseback transaction involving one of its news helicopters. The resulting lease qualifies and is accounted for as a capital lease (see Note 15). The gain on sale of $663,000 has been deferred and is being amortized as an offset to depreciation expense over the life of the lease. Machinery and equipment includes $1.3 million recorded under this capital lease, offset by deferred gain of $252,000 and $347,000 at December 31, 2011 and 2010, respectively. Accumulated depreciation associated with the capital lease asset totals $774,000 and $595,000 at December 31, 2011 and 2010, respectively.

As of December 31, 2011, the Company had approximately $3.2 million of accruals related to the purchase of property, plant and equipment. This amount was not included in the purchases of plant, property and equipment reported on the consolidated statement of cash flows for the year ended December 31, 2011.

The Company did not capitalize any interest expense in 2011, 2010 or 2009.

- 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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