Note 8 - Property, Plant & Equipment

6 Months Ended

Jun. 30, 2022

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):

	June 30, 2022			December 31, 2021
Land improvements	$	806		$	806
Building and improvements		87,118			89,698
Machinery and equipment		256,414			266,386
Furniture and fixtures		5,491			5,658
Computer equipment and software		12,144			12,727
Transportation equipment		703			726
		362,676			376,001
Less accumulated depreciation and amortization		(171,735	)		(167,772	)
		190,941			208,229
Construction in progress		32,307			33,705
Land		1,101			1,101
Total property, plant and equipment, net	$	224,349		$	243,035

For the three months ended June 30, 2022 and 2021, the depreciation expense of property, plant and equipment was $5.7 million and $6.3 million, respectively. For the six months ended June 30, 2022 and 2021, the depreciation expense of property, plant and equipment was $11.7 million and $12.6 million, respectively. For the three months ended June 30, 2022 and 2021, the capitalized interest was $0.1 million and $0.2 million, respectively. For the six months ended June 30, 2022 and 2021, the capitalized interest was $0.2 million and $0.3 million, respectively.

As of June 30, 2022, 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.