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Note 6 - Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]

6. PROPERTY, PLANT AND EQUIPMENT

 

The Company’s property, plant and equipment at September 30, 2023 and  December 31, 2022 consisted of the following (in thousands):

 

  

September 30,

  

December 31,

 
  

2023

  

2022

 

Liquefaction plants and systems

 $48,005  $47,636 

Real property and buildings

  2,066   2,057 

Vehicles and tanker trailers and equipment

  49,489   52,647 

Computer and office equipment

  457   470 

Construction in progress

  9,620   527 

Leasehold improvements

  32   31 
   109,669   103,368 

Less: accumulated depreciation

  (59,651)  (55,699)
  $50,018  $47,669 

 

Depreciation expense totaled $2.0 million and $2.1 million for the three months ended September 30, 2023 and 2022, respectively, all of which is included in the Condensed Consolidated Statements of Operations as a separate line item. Depreciation expense totaled $6.0 million and $6.6 million for the nine months ended September 30, 2023 and 2022, respectively, all of which is included in the Condensed Consolidated Statements of Operations as a separate line item.

 

In October 2023, the Company’s insurance carriers settled with the Company with respect to certain assets that were damaged in a fire in June of 2023. The damages did not adversely impact the Company’s operations and were covered under the Company’s insurance policies less the policy deductible. The insurance proceeds to be received totaled $1.4 million including the reimbursement of site remediation and clean up expenses incurred by the Company.  At September 30, 2023, the damaged assets were written off and the corresponding gain of $1.0 million is included in gain from disposal of fixed assets within the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2023, and proceeds to be received under the above referenced settlement are included in prepaid expenses and other current assets at September 30, 2023.