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Note 3 - Property, Plant and Equipment
 9 Months Ended
Sep. 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

 
  

September 30, 2023

  

December 31, 2022

 

Land

 $7,345  $7,344 

Plant and buildings

  140,951   99,172 

Furniture and fixtures

  2,028   1,831 

Machinery and equipment

  14,983   15,209 

Construction in progress

  59,919   88,934 

Property held for development

  15,437   15,437 

Finance lease right of use assets

  2,889   3,045 

Total gross property, plant & equipment

  243,552   230,972 

Less accumulated depreciation

  (55,476)  (50,531)

Total net property, plant & equipment

 $188,076  $180,441 

 

For the three months ended September 30, 2023 and 2022, interest capitalized in property, plant, and equipment was $1.5 million and $3.1 million, respectively. For the nine months ended September 30, 2023 and 2022, interest capitalized in property, plant, and equipment was $3.9 million and $7.7 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