Property, plant and equipment and construction in progress

12 Months Ended

Dec. 31, 2019

Property, plant and equipment and construction in progress

Property, plant and equipment and construction in progress

8. Property, plant and equipment and construction in progress


	December 31,
	2019		2018
Land	$	3,566,537	$	3,435,361
Buildings		23,176,106		19,829,575
Plant and equipment		64,840,636		61,777,836
Distribution system		36,538,614		36,057,078
Office furniture, fixtures and equipment		3,061,315		3,635,184
Vehicles		1,582,053		1,431,719
Leasehold improvements		272,092		244,221
Lab equipment		14,958		27,795
		133,052,311		126,438,769
Less accumulated depreciation		71,803,332		67,557,951
Property, plant and equipment, net	$	61,248,979	$	58,880,818
Construction in progress	$	1,335,597	$	6,015,043

As of December 31, 2019, the Company had outstanding capital commitments of $226,526. The Company maintains insurance for loss or damage to all fixed assets that it deems susceptible to loss. The Company does not insure its underground distribution system as the Company considers the possibility of material loss or damage to this system to be remote. During the years ended December 31, 2019 and 2018, $7,755,375 and $14,398,624, respectively, of construction in progress was placed in service. Depreciation expense was $6,186,627 and $5,514,881 for the years ended December 31, 2019 and 2018, respectively.