Property, Plant and Equipment

9 Months Ended

Sep. 30, 2021

Property, Plant and Equipment

Property, Plant and Equipment

4.           Property, Plant and Equipment

	September 30,		December 31,
	2021		2020
	($000’s omitted)
Land	$	7	$	7
Buildings		11,363		11,359
Machinery, equipment and tooling		21,193		21,146
Construction in progress		215		198
		32,778		32,710
Less accumulated depreciation and amortization		(21,730)		(20,693)
Total property, plant and equipment	$	11,048	$	12,017

Depreciation and amortization expense amounted to approximately $329,000 and $356,000 for the three months ended September 30, 2021 and 2020, respectively. Amortization expense primarily related to ROU assets amounted to approximately $8,000 and $15,000 for the three months ended September 30, 2021 and 2020, respectively. Depreciation and amortization expense amounted to approximately $1,043,000 and $1,072,000 for the nine months ended September 30, 2021 and 2020, respectively. Amortization expense, primarily related to ROU assets, amounted to approximately $42,000 and $50,000 for the nine months ended September 30, 2021 and 2020, 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, 2021, there is approximately $215,000 ($198,000 – December 31, 2020) of construction in progress (CIP) included in property, plant and equipment all of which is related to capital projects. There is approximately $214,000 for machinery & equipment and self-constructed assets ($191,000 – December 2020), $0 for computer equipment ($7,000 – December 2020) and $1,000 for building improvements ($0 – December 2020) primarily related to the at the Advanced Technology Group.