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Note 13 - Property, Plant and Equipment, Net
 12 Months Ended
Dec. 31, 2021
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

13.          Property, plant and equipment, net

 

Property, plant and equipment, net consisted of the following as of  December 31, 2021 and 2020 (in thousands):

 

  

December 31,

 
  

2021

  

2020

 

Cost:

        

Land

 $21,580  $3,379 

Land improvement

  3,054   - 

Buildings and lease hold improvements

  104,660   30,513 

Plant and equipment

  701,400   519,866 
   830,694   553,758 

Less: accumulated depreciation

  (352,114)  (259,035)

Total

 $478,580  $294,723 

 

The carrying amount of our property, plant and equipment recognized in respect of assets held under finance leases as of  December 31, 2021 and 2020 and included in amounts above is as follows (in thousands):

 

  

December 31,

 
  

2021

  

2020

 

Cost:

        

Buildings

 $18,623  $18,932 

Plant and equipment

  1,275   1,520 
   19,898   20,452 

Less: accumulated amortization

  (7,733)  (6,674)

Total

 $12,165  $13,778 

 

Depreciation expense related to property, plant and equipment, including assets under finance leases, was $95.8 million, $85.4 million and $88.0 million for the years ended  December 31, 2021, 2020 and 2019, respectively.

 

No impairment expense related to property, plant and equipment was recognized for the year ended December 31, 2021. We recognized impairment expense related to property, plant and equipment of $20.0 million and $4.7 million for the years ended December 31, 2020 and 2019 respectively, which are included in “Impairment expense” on our consolidated statement of operations. Refer to Note 4 “Fair value measurements” for further details.

 

During the three months ended December 31, 2021, a building classified as assets held for sale was sold for $3.8 million.