Note 4 - Property and Equipment

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note

4

.

Property and Equipment

Property and equipment is stated at cost and depreciated using the straight-line method over the estimated useful life of the asset which varies from

10

to

30

years for land improvements;

5

to

50

years in the case of buildings and improvements; and from

3

to

10

years for machinery and equipment, vehicles and office furniture and equipment.

Major additions and improvements are charged to the property and equipment accounts while replacements, maintenance and repairs, which do

not

improve or extend the life of the respective asset, are expensed as incurred. The cost of assets retired or otherwise disposed of and the related accumulated depreciation is eliminated from the accounts in the year of disposal. Gains or losses resulting from disposals of property and equipment are credited or charged to operations. Interest costs are capitalized on significant construction projects.

Property and equipment at

June 30, 2017

and

December 31, 2016

consists of the following (in thousands):

	June 30,			December 31,
	2017			2016
Land and land improvements	$	14,145		$	14,118
Buildings and improvements		34,166			33,533
Machinery and equipment		9,110			9,015
Vehicles		445			445
Office furniture and fixtures		6,259			5,963
Construction in progress		421			479
		64,546			63,553
Less accumulated depreciation and amortization		(20,825	)		(19,582	)
Property and equipment, net	$	43,721		$	43,971

At

June 30, 2017,

the Company did

not

have any fixed contractual commitments for construction projects.