Note 8 - Property, Plant & Equipment |
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Notes to Financial Statements | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property, Plant and Equipment Disclosure [Text Block] |
Note 8. Property, Plant & Equipment Property, plant and equipment consisted of the following for the periods indicated (in thousands):
For the three months ended September 30, 2022 and 2021, the depreciation expense of property, plant and equipment was $5.5 million and $6.2 million, respectively. For the nine months ended September 30, 2022 and 2021, the depreciation expense of property, plant and equipment was $17.2 million and $18.7 million, respectively. For the three months ended September 30, 2022 and 2021, the capitalized interest was $0.1 million and $0.3 million, respectively. For the nine months ended September 30, 2022 and 2021, the capitalized interest was $0.2 million and $0.6 million, respectively.
As of September 30, 2022, the Company concluded that its continued loss history constitutes a triggering event as described in ASC 360-10-35-21,Property, Plant, and Equipment. The Company performed a recoverability test and concluded that future undiscounted cash flows exceed the carrying amount of the Company’s long-lived assets and therefore no impairment charge was recorded.
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