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Note 13 - Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2025

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, 2025 and 2024 (in thousands):

		December 31,
		2025				2024
Cost:
Land		$	22,176			$	22,176
Land improvement			3,352				3,332
Buildings and lease hold improvements			108,857				107,110
Plant and equipment			1,221,892				1,128,525
			1,356,277				1,261,143
Less: accumulated depreciation			(833,120	)			(697,446	)
Total		$	523,157			$	563,697

The carrying amount of our property, plant and equipment recognized in respect of assets held under finance leases as of  December 31, 2025 and 2024 and included in amounts above is as follows (in thousands):

		December 31,
		2025				2024
Cost:
Buildings		$	20,344			$	23,624
Plant and equipment			3,299				236
			23,643				23,860
Less: accumulated amortization			(13,694	)			(11,694	)
Total		$	9,949			$	12,166

Depreciation expense related to property, plant and equipment, including assets under finance leases, was $140.7 million, $115.5 million and $133.4 million for the years ended  December 31, 2025, 2024 and 2023, respectively.

No impairment expense related to property, plant, and equipment was recognized for the years ended December 31, 2025, 2024 and 2023.

No assets held for sale were sold during the years ended December 31, 2025 and 2024. During the year ended December 31, 2023 assets held for sale were sold for net proceeds of $2.0 million. 

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- References

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-7

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