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Note 13 - Property, Plant and Equipment, Net
 6 Months Ended
Jun. 30, 2023
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 June 30, 2023, and December 31, 2022 (in thousands):

 

   

June 30,

    

December 31,

  
   

2023

    

2022

  

Cost:

                

Land

   $ 22,261     $ 22,261  

Land improvements

     3,054       3,054  

Buildings and lease hold improvements

     99,010       98,490  

Plant and equipment

     843,510       789,910  
      967,835       913,715  

Less: accumulated depreciation

     (503,314 )     (451,399 )

Total

   $ 464,521     $ 462,316  

 

The carrying amount of our property, plant and equipment recognized in respect of assets held under finance leases as of June 30, 2023 and December 31, 2022 and included in amounts above is as follows (in thousands):

 

   

June 30,

    

December 31,

  
   

2023

    

2022

  

Cost:

                

Buildings

   $ 18,623     $ 18,623  

Plant and equipment

     589       1,275  

Total

     19,212       19,898  

Less: accumulated amortization

     (9,031 )     (9,085 )

Total

   $ 10,181     $ 10,813  

 

Depreciation expense relating to property, plant and equipment, including assets under finance leases, was $27.8 million and $53.3 million for the three and six months ended June 30, 2023, respectively, and $25.6 million and $51.6 million for the three and six months ended June 30, 2022, respectively.

 

During the six months ended June 30, 2023 and 2022, assets held for sale were sold for net proceeds of $2.0 million and $6.3 million, respectively.