Property, Plant and Equipment

9 Months Ended

Sep. 30, 2016

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

4. Property, Plant and Equipment

	September 30, 2016			December 31, 2015
	($000’s omitted)
Land	$	21		$	21
Buildings		10,414			10,343
Machinery, equipment and tooling		15,642			14,934
Construction in progress		64			57
		26,141			25,355
Less accumulated depreciation and amortization		(16,200	)		(15,600	)
Total property, plant and equipment	$	9,941		$	9,755

Property, plant and equipment includes land and facilities in Elma and Franklinville, New York. As of September 30, 2016 and December 31, 2015, accumulated depreciation on the building amounted to approximately $3,418,000 and $3,258,000, respectively.

Depreciation and amortization expense amounted to $198,000 and $185,000 for the three month periods ended September 30, 2016 and 2015, respectively, and amounted to $610,000 and $525,000 for the nine month periods ended September 30, 2016 and 2015, respectively. The Company believes that it 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, 2016, there is approximately $64,000 ($57,000 – 2015) of construction in progress included in property, plant and equipment all of which is related to capital projects at the Advanced Technology Group. See Note 7, Commitments and Contingencies, for more information on anticipated capital expenditures.