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Note 6 - Property and Equipment
 3 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

Note 6.  Property and Equipment

 

Property and equipment by major asset class consist of the following as of March 31, 2024 and  December 31, 2023 (in thousands):

 

  

March 31,

  

December 31,

 
  

2024

  

2023

 

Land

 $1,597  $1,630 

Building and improvements

  7,519   7,742 

Machinery and equipment

  19,693   19,378 

Computers and software

  2,599   2,408 

Furniture and fixtures

  710   722 

Vehicles

  264   265 

Right of use assets - finance leases

  12,689   12,709 

Service equipment

  57   57 
   45,128   44,911 

Less: Accumulated depreciation and amortization

  (22,643)  (21,912)
   22,485   22,999 

Construction in progress

  658   337 

Property and equipment, net

 $23,143  $23,336 

 

The following table presents the depreciation expense associated with the respective income statement line items for the three months ended March 31, 2024 and 2023 (in thousands):

 

  

Three Months Ended

 
  

March 31,

 
  

2024

  

2023

 

Cost of sales

        

Cost of product sales

 $468  $362 

Cost of services

  148   154 

Selling, general and administrative expenses

  457   427 

Total depreciation

 $1,073  $943 

 

We evaluate our property and equipment for impairment whenever changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We determined there were no triggering events that indicated potential impairment of our property and equipment for the three months ended March 31, 2024 and 2023, respectively, and accordingly no impairment loss has been recorded.