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PROPERTY, PLANT AND EQUIPMENT AND LEASED FACILITIES AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2020
Property Plant And Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT AND LEASED FACILITIES AND EQUIPMENT | 4. PROPERTY, PLANT AND EQUIPMENT AND LEASED FACILITIES AND EQUIPMENT Property, plant and equipment Property, plant and equipment consisted of the following at December 31, 2020 and 2019 (in thousands):
|  | Estimated |  |  | December 31, |
|  | Useful Life |  |  | 2020 |  |  | 2019 |
|  | (in Years) |  |  |  |  |  |  |  |  |
Land |  |  | — |  |  | $ | 4,972 |  |  | $ | 4,972 |
Buildings |  |  | 25 |  |  |  | 36,581 |  |  |  | 35,580 |
Machinery and equipment |  | 3 to 25 |  |  |  | 99,621 |  |  |  | 126,622 |
Furniture and fixtures |  | 3 to 5 |  |  |  | 1,375 |  |  |  | 2,288 |
Transportation equipment |  | 3 to 5 |  |  |  | 2,195 |  |  |  | 2,521 |
Improvements |  |  | 15 |  |  |  | 38,934 |  |  |  | 40,377 |
Construction in progress |  |  | — |  |  |  | 8,120 |  |  |  | 2,636 |
Total property, plant and equipment |  |  |  |  |  |  | 191,798 |  |  |  | 214,996 |
Accumulated depreciation |  |  |  |  |  |  | (124,340 | ) |  |  | (144,512 | )
Property, plant and equipment, net |  |  |  |  |  | $ | 67,458 |  |  | $ | 70,484 |
Depreciation expense for 2020, 2019 and 2018 was $8.6 million, $9.6 million and $10.4 million, respectively. The decrease in depreciation expense for 2020 compared to 2019 was due to assets becoming fully depreciated and assets being impaired in the fourth quarter 2019. The decrease in depreciation expense for 2019 compared to 2018 was due to assets becoming fully depreciated. Leased Facilities and Equipment At December 31, 2020, our significant leases subject to long-term agreements were as follows:
| • | Corporate office in Houston, Texas consisting of approximately 17,000 square feet of office space. The lease expires in May 2025.
| • | Jennings Yard located near Jennings, Louisiana, consisting of a 180-acre yard on the west bank of the Mermentau River approximately 25 miles north of the U.S. Intracoastal Waterway. The lease expires in January 2025 with two ten-year renewal options that would extend the lease through January 2045. During the fourth quarter 2020, we closed our Jennings Yard and do not intend to exercise our renewal options. See Note 3 for discussion of our closure of the Jennings Yard.
| • | Lake Charles Yard located near Lake Charles, Louisiana, consisting of a 10-acre yard on the Calcasieu River approximately 17 miles from the GOM, that we sublease from a third party. The sublease expires in July 2023 with three, five-year renewal options (subject to sublessor renewals) that would extend the lease through July 2038. During the fourth quarter 2020, we closed our Lake Charles Yard and do not intend to exercise our renewal options. See Note 3 for discussion of our closure of the Lake Charles Yard.
| • | Engineering office in Metairie, Louisiana, consisting of approximately 7,600 square feet of office space. The lease expires in December 2025.
At December 31, 2020, our lease asset, current lease liability and long-term lease liability were $1.7 million, $0.6 million and $2.0 million, respectively. As discussed above, we do not intend to exercise the renewal options for our Jennings Yard and Lake Charles Yard, and accordingly, our lease obligations for these facilities exclude the lease renewal options. See Note 3 for discussion of our lease asset impairments recorded during 2020 and 2019. Future minimum payments under leases having initial terms of more than twelve months are as follows (in thousands):
|  | Minimum Payments |
2021 |  | $ | 726 |
2022 |  |  | 737 |
2023 |  |  | 653 |
2024 |  |  | 564 |
2025 |  |  | 219 |
Total lease payments |  |  | 2,899 |
Less: interest |  |  | (278 | )
Present value of lease liabilities |  | $ | 2,621 |
Total lease expense for our leased facilities and equipment, which includes lease asset amortization expense and expense for leases with original terms that are twelve months or less, for 2020, 2019 and 2018, was $1.5 million, $1.8 million and $1.9 million, respectively. Cash paid for interest and lease expense for 2020 and 2019 was $1.8 million and $2.0 million, respectively. The discount rate used to determine the present value of our lease liabilities was based on the interest rate on our LC Facility adjusted for terms similar to that of our leased properties. At December 31, 2020, our weighted-average remaining lease term was approximately 4.0 years and the weighted-average discount rate used to derive our lease liability was 6.7%.

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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