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Property and Equipment

9 Months Ended

Sep. 30, 2011

Property and Equipment [Abstract]

Property and Equipment

(6)

Property and Equipment:

Property and equipment consists of the following:


(in thousands)		Depreciable Lives		September 30, 2011				December 31, 2010
Land		—		$	16,193			$	11,937
Land improvements		10			1,573				1,453
Buildings and improvements		7-30			108,669				76,058
Machinery and equipment		5-15			134,741				111,339
Furniture and fixtures		7			6,066				6,142
Computer software and equipment		5			21,189				21,005
Vehicles		5			1,201				34
Construction in progress		—			24,656				11,532

					314,288				239,500
Less accumulated depreciation					(131,520	)			(121,266	)

Net property and equipment				$	182,768			$	118,234

Leasehold improvements are included with buildings and improvements and are depreciated over the life of the lease or seven years, whichever is less.

Construction in progress, as of September 30, 2011, primarily consisted of payments for a new temper mill facility and equipment in Gary, Indiana, additional processing equipment at our existing facilities, costs related to the implementation of our new computer systems, and construction costs related to the suspended project in Sumter, South Carolina.

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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