Property, Plant and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

7. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are stated at cost and are depreciated and amortized over a period of three to 39 years generally under the straight-line method for financial reporting purposes and accelerated methods for income tax purposes.

Property, plant and equipment as of December 31 were as follows (in thousands):


	2014			2013
Land	$	2,089		$	2,089
Buildings and improvements		43,800			43,083
Machinery and equipment		228,663			224,481
Furniture and fixtures		5,905			6,047
Construction in-progress and deposits		2,568			1,327

		283,025			277,027
Accumulated depreciation and amortization		(245,638	)		(236,935	)

Net balance	$	37,387		$	40,092

Depreciation expense for the years ended December 31, 2014, 2013 and 2012 was approximately $9,833,000, $10,180,000, and $10,546,000 respectively. As of December 31, 2014, the Company had approximately $841,000 of capital expenditure commitments.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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