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Note 8 - Property, Plant and Equipment | 6 Months Ended
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Jun. 30, 2023
Notes to Financial Statements |
Property, Plant and Equipment Disclosure [Text Block] |
8. | PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment consist of the following:
|  | June 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Land |  | $ | 1,018 |  |  | $ | 1,098 |
Buildings and improvements |  |  | 21,620 |  |  |  | 21,529 |
Machinery and equipment |  |  | 117,650 |  |  |  | 118,358 |
Construction in progress |  |  | 3,468 |  |  |  | 4,239 |
|  |  | 143,756 |  |  |  | 145,224 |
Accumulated depreciation |  |  | (105,310 | ) |  |  | (108,391 | )
Property, plant and equipment, net |  | $ | 38,446 |  |  | $ | 36,833 |
Depreciation expense was $2.2 million and $2.3 million, respectively, for the three months ended June 30, 2023 and 2022, and $4.2 million and $4.7 million, respectively, for the six months ended June 30, 2023 and 2022. Depreciation expense related to our manufacturing facilities and equipment is included in cost of sales and depreciation expense associated with administrative facilities and office equipment is included in selling, general and administrative expense within the accompanying condensed consolidated statements of operations. At December 31, 2022, a total of $1.5 million of property was classified as assets held for sale on the accompanying condensed consolidated balance sheets related to our corporate headquarters in Jersey City, New Jersey. The Company closed on the sale of this property during the second quarter of 2023 for $5.9 million, resulting in a gain on sale of $3.7 million, which is recorded in the condensed consolidated statement of operations for the three and six months ended June 30, 2023.

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