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Note 3 - Property, Plant and Equipment

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

3. Property, Plant and Equipment

Property, plant and equipment consist of the following:

		As of
		June 30, 2023				December 31, 2022
Land		$	7,348			$	7,344
Plant and buildings			141,238				99,116
Furniture and fixtures			1,934				1,831
Machinery and equipment			14,984				15,209
Construction in progress			52,731				88,934
Property held for development			15,431				15,437
Finance lease right of use assets			2,889				3,045
Total gross property, plant & equipment			236,555				230,972
Less accumulated depreciation			(53,772	)			(50,531	)
Total net property, plant & equipment		$	182,783			$	180,441

For the three months ended June 30, 2023 and 2022, interest capitalized in property, plant, and equipment was $1.0 million and $2.6 million, respectively. For the six months ended June 30, 2023 and 2022, interest capitalized in property, plant, and equipment was $2.8 million and $4.7 million, respectively. 

Construction in progress includes costs for the biogas construction projects (dairy digesters and pipeline), Riverbank projects (sustainable aviation fuel and renewable diesel plant as well as carbon capture characterization well), and energy efficiency projects at the Keyes Plant. 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 - 15
Furniture and fixtures			3 - 5

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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.

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