XML 29 R15.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Note 8 - Long-lived Assets | 12 Months Ended
--- | ---
Dec. 31, 2023
Notes to Financial Statements |
Property, Plant, and Equipment and Intangible Assets [Text Block] | 8. LONG-LIVED ASSETS The cost basis and estimated lives of property and equipment as of December 31, 2023 and 2022 are as follows:
|  | As of December 31, |  |  |  |  |
|  | 2023 |  |  | 2022 |  |  | Life (in years) |
Land |  | $ | 1,423 |  |  | $ | 1,423 |  |  |  |  |
Buildings |  |  | 22,111 |  |  |  | 20,792 |  |  |  | 39 |
Machinery and equipment |  |  | 125,107 |  |  |  | 120,893 |  |  |  | 2 - 10 |
Office furniture and equipment |  |  | 5,962 |  |  |  | 5,705 |  |  |  | 3 - 7 |
Leasehold improvements |  |  | 9,068 |  |  |  | 9,040 |  |  | Shorter of asset life or life of lease |
Construction in progress |  |  | 3,526 |  |  |  | 2,360 |  |  |  |  |
|  |  | 167,197 |  |  |  | 160,213 |  |  |  |  |
Less accumulated depreciation and amortization |  |  | (120,074 | ) |  |  | (114,894 | ) |  |  |  |
Total property and equipment |  | $ | 47,123 |  |  | $ | 45,319 |  |  |  |  |
As of December 31, 2023, the Company had commitments of $1,523 related to the completion of projects within construction in progress. During the year ended December 31, 2023, the Company did not identify any impairment triggering events within its segments. As a result, no impairment charges were recorded for the year ended December 31, 2023. During November 2022, the Company identified a triggering event associated with an expected operating loss within the Heavy Fabrications segment during the year ended December 31, 2022. Accordingly, the Company performed an undiscounted cash flow analysis as of November 30, 2022 and determined that the undiscounted future cash flows exceeded the asset group's carrying value. Additionally, there were no changes in facts or circumstances following the November 30, 2022 assessment through December 31, 2022, which would alter the asset group’s initial undiscounted future cash flows or carrying value estimates. As a result, no impairment charge was recorded for the Heavy Fabrications asset group for the year ended December 31, 2022. As of December 31, 2023 and 2022, the cost basis, accumulated amortization and net book value of intangible assets were as follows:
|  | December 31, 2023 |  |  | December 31, 2022 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Remaining |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Remaining |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Weighted |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Weighted |
|  |  |  |  |  |  |  |  |  | Accumulated |  |  | Net |  |  | Average |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  | Net |  |  | Average |
|  | Cost |  |  | Accumulated |  |  | Impairment |  |  | Book |  |  | Amortization |  |  |  |  |  |  | Accumulated |  |  | Impairment |  |  | Book |  |  | Amortization |
|  | Basis |  |  | Amortization |  |  | Charges |  |  | Value |  |  | Period |  |  | Cost |  |  | Amortization |  |  | Charges |  |  | Value |  |  | Period |
Intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noncompete agreements |  | $ | 170 |  |  | $ | (170 | ) |  | $ | — |  |  | $ | — |  |  |  | — |  |  | $ | 170 |  |  | $ | (167 | ) |  | $ | — |  |  | $ | 3 |  |  |  | 0.1 |
Customer relationships |  |  | 15,979 |  |  |  | (7,842 | ) |  |  | (7,592 | ) |  |  | 545 |  |  |  | 2.1 |  |  |  | 15,979 |  |  |  | (7,581 | ) |  |  | (7,592 | ) |  |  | 806 |  |  |  | 3.1 |
Trade names |  |  | 9,099 |  |  |  | (7,580 | ) |  |  | — |  |  |  | 1,519 |  |  |  | 3.8 |  |  |  | 9,099 |  |  |  | (7,180 | ) |  |  | — |  |  |  | 1,919 |  |  |  | 4.8 |
Intangible assets |  | $ | 25,248 |  |  | $ | (15,592 | ) |  | $ | (7,592 | ) |  | $ | 2,064 |  |  |  | 3.3 |  |  | $ | 25,248 |  |  | $ | (14,928 | ) |  | $ | (7,592 | ) |  | $ | 2,728 |  |  |  | 4.3 |
Intangible assets represent the fair value assigned to definite-lived assets such as trade names and customer relationships. Estimated useful lives for intangibles assets range from 6 to 20 years. Intangible assets are amortized on a straight-line basis over their estimated useful lives, with a remaining life range from 2 to 4 years. Amortization expense was $664 and $725 for the years ended December 31, 2023 and 2022, respectively. As of December 31, 2023, estimated future amortization expense is as follows:
2024 |  | $ | 661 |
2025 |  |  | 661 |
2026 |  |  | 422 |
2027 |  |  | 320 |
Total |  | $ | 2,064 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for intangible assets and long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration