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Property, Plant and Equipment | 3 Months Ended
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Mar. 31, 2024
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment The components of Property, plant and equipment, net are as follows:
(in thousands) | March 31, 2024 |  | December 31, 2023 |  | March 31, 2023
Land | $ | 30,626 |  |  | $ | 30,912 |  |  | $ | 38,000 |
Land improvements and leasehold improvements | 82,541 |  |  | 82,438 |  |  | 91,503 |
Buildings and storage facilities | 366,790 |  |  | 365,744 |  |  | 362,451 |
Machinery and equipment | 959,920 |  |  | 951,544 |  |  | 917,269 |
Construction in progress | 45,327 |  |  | 36,541 |  |  | 48,158 |
| 1,485,204 |  |  | 1,467,179 |  |  | 1,457,381 |
Less: accumulated depreciation | 796,091 |  |  | 773,814 |  |  | 778,664 |
Property, plant and equipment, net | $ | 689,113 |  |  | $ | 693,365 |  |  | $ | 678,717 |
Depreciation expense on property, plant, and equipment was $24.7 million and $26.2 million for three months ended March 31, 2024, and 2023, respectively. In the first quarter of 2023, the Company recorded a $87.2 million impairment charge related to ELEMENT. The plant faced operational and market-based challenges which were exacerbated by a shift in the California Low Carbon Fuel Standard credit markets and high western corn basis. At the time of the impairment, the Company owned 51% of ELEMENT and it was a consolidated entity, as such, 49% of the impairment charge was represented in Net income (loss) attributable to noncontrolling interests in the Company's Condensed Consolidated Statements of Operations.

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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//1943274/2147480321/958-360-50-6 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//1943274/2147480321/958-360-50-1 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//1943274/2147480321/958-360-50-7 + Details
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