Note 8 - Property, Plant & Equipment

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

Note 8.  Property, Plant & Equipment

Property, plant and equipment consisted of the following for the periods indicated (in thousands):

	September 30, 2021			December 31, 2020
Land improvements	$	806		$	806
Building and improvements		89,061			88,280
Machinery and equipment		261,041			253,738
Furniture and fixtures		5,617			5,540
Computer equipment and software		12,612			11,912
Transportation equipment		709			699
		369,846			360,975
Less accumulated depreciation and amortization		(161,307	)		(142,434	)
		208,539			218,541
Construction in progress		32,812			33,342
Land		1,101			1,101
Total property, plant and equipment, net	$	242,452		$	252,984

For the three months ended September 30, 2021 and 2020, the depreciation expense of property, plant and equipment was $6.2 million and $6.1 million, respectively. For the nine months ended September 30, 2021 and 2020, the depreciation expense of property, plant and equipment was $18.7 million and $17.9 million, respectively. For the three months ended September 30, 2021 and 2020, the capitalized interest was $0.3 million and 0.1 million, respectively. For the nine months ended September 30, 2021 and 2020, the capitalized interest was $0.6 million and $0.3 million, respectively.

As of September 30, 2021, the Company concluded that its continued loss history constitutes a triggering event as described in ASC 360-10-35-21,Property, Plant, and Equipment.  The Company performed a recoverability test and concluded that future undiscounted cash flows exceed the carrying amount of the Company’s long-lived assets and therefore no impairment charge was recorded.