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Property, Plant and Equipment
 3 Months Ended
Mar. 31, 2023
Property Plant And Equipment [Abstract]  
Property, Plant and Equipment

4. Property, Plant and Equipment — Property, plant and equipment at March 31, 2023 and December 31, 2022 consists of the following:

 

 

March 31,
2023

 

 

December 31,
2022

 

Land

 

$

2,761

 

 

$

2,757

 

Buildings and improvements

 

 

20,918

 

 

 

20,794

 

Machinery and equipment

 

 

146,047

 

 

 

142,980

 

Office furniture, fixtures and equipment

 

 

11,266

 

 

 

13,231

 

Automotive equipment

 

 

1,490

 

 

 

1,584

 

Construction in progress

 

 

4,622

 

 

 

5,897

 

Total

 

 

187,104

 

 

 

187,243

 

Less accumulated depreciation

 

 

(115,566

)

 

 

(116,331

)

Property, plant and equipment, net

 

$

71,538

 

 

$

70,912

 

 

The Company recognized depreciation expense related to property and equipment of $2,179 and $2,103 for the three months ended March 31, 2023 and 2022, respectively.

 

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