Property, Plant and Equipment

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Note 5 – Property, Plant and Equipment

Property, plant and equipment were comprised of the following:


	March 31, 2026			December 31, 2025
Land and land improvements	$	9,216		$	9,321
Buildings and leasehold improvements		69,934			70,319
Machinery and equipment		347,194			347,030
Construction-in-progress		6,903			6,088
Other		6,447			6,447
		439,694			439,205
Accumulated depreciation and amortization		(313,376	)		(310,072	)
Property, plant and equipment, net	$	126,318		$	129,133

Certain property, plant and equipment are held as collateral including:

•

Certain of the machinery and equipment with a book value equal to approximately $24,239 at March 31, 2026, purchased with proceeds from the equipment finance facility (Note 8), are held as collateral for the equipment financing facility.

•

Certain land and land improvements and buildings and leasehold improvements with a book value equal to approximately $55,510 are included in the sale-leaseback financing transactions and Disbursement Agreement (Note 8). Title to these assets lies with the lender; however, since the transactions qualified as financing transactions, versus sales, the assets remain recorded on the Corporation’s condensed consolidated balance sheets.

•

The remaining assets, other than real property, are pledged as collateral for the Corporation’s revolving credit facility and Equipment Term Notes (Note 8).

The gross value of assets under finance leases and the related accumulated depreciation approximated $3,557 and $1,858, respectively, as of March 31, 2026 and $3,795 and $1,966, respectively, at December 31, 2025.

Depreciation expense approximated $4,200 and $4,550, including depreciation of assets under finance leases of approximately $94 and $77, for the three months ended March 31, 2026 and 2025, respectively.