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Property and Equipment
 12 Months Ended
Dec. 31, 2024
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT

5. PROPERTY AND EQUIPMENT.

 

Property and equipment consisted of the following (in thousands):

 

   December 31, 
   2024   2023 
Facilities and plant equipment  $420,456   $405,010 
Land   3,594    3,687 
Other equipment, vehicles and furniture   20,636    9,719 
Construction in progress   11,154    50,505 
    455,840    468,921 
Accumulated depreciation   (241,098)   (220,173)
   $214,742   $248,748 

 

Depreciation expense was $23,820,000, $22,492,000 and $24,528,000 for the years ended December 31, 2024, 2023 and 2022, respectively. The Company capitalized interest of $2,517,000, $2,454,000 and $720,000 for the years ended December 31, 2024, 2023 and 2022, respectively, related to its capital investment activities. The Company recorded an asset impairment of $19,000,000 for the year ended December 31, 2024. The Company did not record any impairment on its property and equipment for the years ended December 31, 2023 and 2022.

 

The Company’s property and equipment are substantially pledged as collateral under the Company’s Term Loan.