Property, Plant & Equipment

6 Months Ended

Jun. 30, 2021

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT & EQUIPMENT

Property, plant and equipment, net consisted of the following for the periods specified (in thousands):


	June 30, 2021		December 31, 2020
Property, plant and equipment	$	180,062	$	174,553
Accumulated depreciation	(105,449)		(100,501)
Property, plant and equipment — net	$	74,613	$	74,052

Property, plant, and equipment are recorded at cost, unless obtained through acquisition, then assets are recorded at estimated fair value at the date of acquisition. Depreciation is provided on a straight-line method over the estimated useful lives of the assets. The carrying amount of long-lived assets is evaluated annually to determine if an adjustment to the depreciation period or to the unamortized balance is warranted. Depreciation expense for the three months ended June 30, 2021 and 2020 was $2,461,000 and $2,216,000, respectively. Depreciation expense for the six months ended June 30, 2021 and 2020 was $4,943,000 and $4,488,000, respectively. Amounts invested in capital additions in progress were $4,095,000 and $1,422,000 at June 30, 2021 and December 31, 2020, respectively. At June 30, 2021 and December 31, 2020, purchase commitments for capital expenditures in progress were $4,705,000 and $677,000, respectively.