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Property, Plant and Equipment, Net
3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net

NOTE 5 – Property, Plant and Equipment, net

Property, plant and equipment, net is comprised of the following:

 

 

 

As of

 

 

 

March 31,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Land and land improvements

 

$

399

 

 

$

399

 

Buildings and improvements

 

 

73,746

 

 

 

73,248

 

Machinery and equipment(1)

 

 

280,028

 

 

 

276,416

 

Less: Accumulated depreciation

 

 

(264,769

)

 

 

(260,322

)

Property, plant and equipment, net

 

$

89,404

 

 

$

89,741

 

(1)
Includes $2,646 of platinum which is depleted based on actual usage. See Note 1, “Basis of Presentation,” for further discussion.

 

Depreciation expense for the three months ended March 31, 2026 and March 31, 2025 was $4,772 and $4,463, respectively.