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3. Property, Plant and Equipment
 3 Months Ended
Mar. 31, 2020
Property, Plant and Equipment [Abstract]  
3. Property, Plant and Equipment

Property, plant and equipment consist of the following:

 

      As of        
   

March 31,

2020  

    

December 31,

2019  

  
Land   $ 4,077     $ 4,104  
Plant and buildings     83,799       83,139  
Furniture and fixtures     1,095       1,094  
Machinery and equipment     4,169       4,252  
Construction in progress     19,206       12,571  

 

Property held for development

 

     15,408       15,408  

 

Total gross property, plant & equipment

 

     127,754       120,568  

 

Less accumulated depreciation

 

     (37,126 )     (36,342 )
Total net property, plant & equipment   $ 90,628     $ 84,226  

 

Construction in progress contains incurred costs for the Biogas Project, CO2 Project, Riverbank Project, and Zebrex equipment installed at the Keyes Plant. In the second quarter of 2020, CO2 Project commenced operations and was placed in service at that time. Depreciation on the components of property, plant and equipment is calculated using the straight-line method 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 March 31, 2020 and 2019, the Company recorded depreciation expense of $1.1 million for each period.

 

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 months ended March 31, 2020 and 2019.