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3. Property, Plant and Equipment

6 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Abstract]

3. Property, Plant and Equipment

Property, plant and equipment consist of the following:

		June 30, 2017				December 31, 2016
Land		$	2,740			$	2,713
Plant and buildings			82,341				81,755
Furniture and fixtures			603				572
Machinery and equipment			4,326				4,308
Construction in progress			539				88
Total gross property, plant & equipment			90,549				89,436
Less accumulated depreciation			(25,529	)			(23,066	)
Total net property, plant & equipment		$	65,020			$	66,370

Depreciation on the components of property, plant and equipment is calculated using the straight-line method to allocate their depreciable amounts over their estimated useful lives as follows:

		Years
Plant and Buildings			20-30
Machinery & Equipment			5-7
Furniture & Fixtures			3-5

For the three months ended June 30, 2017 and 2016, the Company recorded depreciation expense of $1.2 million for each period. For the six months ended June 30, 2017 and 2016, the Company recorded depreciation expense of $2.3 million and $2.4 million respectively.

Management is required to evaluate these long-lived assets for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Management determined there was no impairment on the long-lived assets during the three and six months ended June 30, 2017 and 2016.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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