Property, Plant and Equipment

9 Months Ended

Sep. 30, 2020

Property, Plant and Equipment

Property, Plant and Equipment

4.           Property, Plant and Equipment

	September 30,		December 31,
	2020		2019
	($000’s omitted)
Land	$	7	$	7
Buildings		11,641		11,017
Machinery, equipment and tooling		20,820		20,695
Construction in progress		222		331
		32,690		32,050
Less accumulated depreciation and amortization		(20,330)		(19,333)
Total property, plant and equipment	$	12,360	$	12,717

Depreciation and amortization expense amounted to approximately $356,000 and $339,000 for the three months ended September 30, 2020 and 2019, respectively.  Amortization expense primarily related to ROU assets amounted to approximately $15,000 and $18,000 for the three months ended September 30, 2020 and 2019, respectively. Depreciation and amortization expense amounted to approximately $1,072,000 and $902,000 for the nine months ended September 30, 2020 and 2019, respectively. Amortization expense, primarily related to ROU assets, amounted to approximately $50,000 and $59,000 for the nine months ended September 30, 2020 and 2019, respectively. The Company maintains property and casualty insurance in amounts adequate for the risk and nature of its assets and operations and which are generally customary in its industry.

As of September 30, 2020, there is approximately $222,000 ($331,000 – December 31, 2019) of construction in progress (CIP) included in property, plant and equipment all of which is related to capital projects. There is approximately $192,000 for machinery & equipment; $22,000 for building improvements, and $8,000 for IT equipment and software, not yet put into service.