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Note 13 - Property, Plant and Equipment, Net
 12 Months Ended
Dec. 31, 2024
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, 2024 and 2023 (in thousands):

 

  

December 31,

 
  

2024

  

2023

 

Cost:

        

Land

 $22,176  $22,176 

Land improvement

  3,332   3,332 

Buildings and lease hold improvements

  107,110   100,404 

Plant and equipment

  1,128,525   971,178 
   1,261,143   1,097,090 

Less: accumulated depreciation

  (697,446)  (583,868)

Total

 $563,697  $513,222 

 

The carrying amount of our property, plant and equipment recognized in respect of assets held under finance leases as of  December 31, 2024 and 2023 and included in amounts above is as follows (in thousands):

 

  

December 31,

 
  

2024

  

2023

 

Cost:

        

Buildings

 $23,624  $23,859 

Plant and equipment

  236   589 
   23,860   24,448 

Less: accumulated amortization

  (11,694)  (10,315)

Total

 $12,166  $14,133 

 

Depreciation expense related to property, plant and equipment, including assets under finance leases, was $115.5 million, $133.4 million and $102.3 million for the years ended  December 31, 2024, 2023 and 2022, respectively.

 

No impairment expense related to property, plant, and equipment was recognized for the years ended December 31, 2024, 2023 and 2022.

 

No assets held for sale were sold during the year ended December 31, 2024. During the years ended December 31, 2023 and 2022 assets held for sale were sold for net proceeds of $2.0 million and $6.3 million, respectively.