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Property, Plant and Equipment
 6 Months Ended
Jun. 30, 2022
Property Plant And Equipment [Abstract]  
Property, Plant and Equipment

4. Property, Plant and Equipment — Property, plant and equipment at June 30, 2022 and December 31, 2021 consists of the following:

 

 

 

 

June 30,

2022

 

 

December 31,

2021

 

Land

 

$

2,756

 

 

$

2,756

 

Buildings and improvements

 

 

19,814

 

 

 

19,844

 

Machinery and equipment

 

 

138,689

 

 

 

132,159

 

Office furniture, fixtures and equipment

 

 

10,444

 

 

 

10,094

 

Automotive equipment

 

 

1,625

 

 

 

1,832

 

Construction in progress

 

 

6,778

 

 

 

8,199

 

Total gross value

 

 

180,106

 

 

 

174,884

 

Less accumulated depreciation

 

 

(112,653

)

 

 

(108,773

)

Total net value

 

$

67,453

 

 

$

66,111

 

 

The Company recognized depreciation expense related to property and equipment of $1,974 and $1,673 for the three-month period ended June 30, 2022 and 2021, respectively. The Company recognized depreciation expense related to property and equipment of $4,077 and $3,844 for the six-month period ended June 30, 2022 and 2021, respectively.

Substantially all of the Company’s assets are pledged as collateral to its banks.