XML 22 R10.htm IDEA: XBRL DOCUMENT v3.20.2
3. Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2020
Property, Plant and Equipment [Abstract]  
3. Property, Plant and Equipment

Property, plant and equipment consist of the following:

   

September 30,

2020

    

December 31,

2019

  
Land   $ 4,088     $ 4,104  
Plant and buildings     96,089       83,139  
Furniture and fixtures     1,166       1,094  
Machinery and equipment     4,389       4,252  
Construction in progress     18,612       12,571  
Property held for development     15,408       15,408  
Finance lease right of use assets     2,988       -  
Total gross property, plant & equipment     142,740       120,568  
Less accumulated depreciation     (39,690 )     (36,342 )
Total net property, plant & equipment   $ 103,050     $ 84,226  

  

Construction in progress contains incurred costs for the Biogas Project, Riverbank Project, and Zebrex equipment installation at the Keyes Plant. In the second quarter of 2020, CO2 Project commenced operations and was placed in service at that time. In the third quarter of 2020, two diary digesters commenced operations and were placed in service at that time. 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 and equipment     5 - 10  
Furniture and fixtures     3 - 5  

 

For the three months ended September 30, 2020 and 2019, the Company recorded depreciation expense of $1.3 million and $1.1 million for each period. For the nine months ended September 30, 2020 and 2019, the Company recorded depreciation expense of $3.5 million and $3.3 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 nine months ended September 30, 2020 and 2019.