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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Note 5 – Property, Plant and Equipment Major classes of property, plant and equipment consist of the following as of December 31 (in thousands): Schedule of Property, Plant and Equipment
|  | 2024 |  |  | 2023 |
Land |  | $ | 2,220 |  |  | $ | 2,220 |
Buildings and improvements |  |  | 12,897 |  |  |  | 12,798 |
Machinery and equipment |  |  | 7,178 |  |  |  | 7,536 |
Construction in progress |  |  | 17 |  |  |  | 167 |
Totals at cost |  |  | 22,312 |  |  |  | 22,721 |
Less: accumulated depreciation |  |  | (10,613 | ) |  |  | (10,555 | )
Property, plant and equipment, net |  | $ | 11,699 |  |  | $ | 12,166 |
Machinery and equipment also include furniture and fixtures and software. Depreciation expense was $0.7 million and $0.8 million for the years ended December 31, 2024 and 2023, respectively. CVD EQUIPMENT CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 5 – Property, Plant and Equipment (continued) The Company entered into an agreement with the Town of Islip Industrial Development Agency (Islip IDA) in July 2021 under which the Company was granted tax incentives whereby the Company agreed to make payments in lieu of all real estate taxes and assessments (PILOT payments). The agreement requires the Company to maintain certain employment levels at its Central Islip, New York facility. The agreement provides for the Islip IDA to recapture tax incentives provided to the Company in certain circumstances. Any recapture of such tax benefits could have a material adverse effect on the Company’s financial position and future results of operations and cash flows.

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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://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://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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