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Property, Plant and Equipment

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

4. Property, Plant and Equipment — Property, plant and equipment at September 30, 2024 and December 31, 2023 consists of the following:

		September 30, 2024				December 31, 2023
Land		$	2,757			$	2,765
Buildings and improvements			21,131				21,088
Machinery and equipment			155,633				148,912
Office furniture, fixtures and equipment			12,529				10,622
Automotive equipment			1,043				1,247
Construction in progress			6,505				10,553
Total gross value			199,598				195,187
Less accumulated depreciation			(126,104	)			(120,627	)
Total net value		$	73,494			$	74,560

The Company recognized depreciation expense related to property and equipment of $2,290 and $2,074 for the three-month periods ended September 30, 2024 and 2023, respectively. The Company recognized depreciation expense related to property and equipment of $6,655 and $6,396 for the nine months ended September 30, 2024 and 2023, respectively.

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

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/360/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-SubTopic 360
-Topic 958
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477798/958-360-50-7

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