XML 31 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
PROPERTY, PLANT AND EQUIPMENT, NET
 12 Months Ended
Dec. 31, 2011
PROPERTY, PLANT AND EQUIPMENT, NET

5. PROPERTY, PLANT AND EQUIPMENT, NET

 

Property, plant and equipment, net, consist of the following:

 

     December 31,  
     2010     2011  

Cost

     

Buildings and plant

    $ 206,078,751      $ 222,690,125   

Machinery and equipment

      217,964,792        261,834,469   

Furniture, fixtures and equipment

      2,973,366        4,119,045   

Motor vehicles

      364,241        591,714   

Less: Accumulated depreciation

      (57,319,503 )     (96,375,060 )
  

 

 

    

 

 

  

Property, plant and equipment, net

    $ 370,061,647      $ 392,860,293   

Construction in process

      29,496,406        243,614,398   
  

 

 

    

 

 

  

Total

    $ 399,558,053      $ 636,474,691   
  

 

 

    

 

 

  

 

Depreciation expense was $16,088,049, $30,751,063 and $35,479,645 for the years ended December 31, 2009, 2010 and 2011, respectively.

 

Construction in process primarily represents the construction of Phase 2 Polysilicon Project in Shihezi, Xinjiang.

 

Due to the challenging solar market conditions, the Company recognized an impairment of long-lived assets of $38,512,376 for its wafer and solar module business in 2011. The impairment of long-lived assets of wafer and module was to reflect the less than expected profit-generating ability of assets for the production of wafer and module due to a sharp decline in the spot market price of wafer and module.