| PROPERTY, PLANT AND EQUIPMENT |
NOTE 6 – PROPERTY, PLANT AND EQUIPMENT Presented in the table below are the major classes of property, plant and equipment by category as of the below dates:
|
|
|
|
|
|
|
|
|
|
|
(dollars in thousands) |
|
Estimated Useful Life (Years) |
|
June 30, 2026 |
|
|
December 31, 2025 |
|
Buildings |
|
10 - 40 |
|
$ |
84,846 |
|
|
$ |
84,757 |
|
Machinery and equipment |
|
3 - 30 |
|
|
410,216 |
|
|
|
386,572 |
|
Leasehold improvements |
|
2 - 15 |
|
|
4,829 |
|
|
|
4,829 |
|
Fixtures and furnishings |
|
5 - 7 |
|
|
764 |
|
|
|
764 |
|
Land improvements |
|
15 |
|
|
150 |
|
|
|
150 |
|
Land |
|
Indefinite |
|
|
1,150 |
|
|
|
1,150 |
|
Construction in progress |
|
N/A |
|
|
260,015 |
|
|
|
263,371 |
|
Total property, plant and equipment at cost |
|
|
|
|
761,970 |
|
|
|
741,593 |
|
Less: Accumulated depreciation |
|
|
|
|
(98,377 |
) |
|
|
(83,841 |
) |
Property, plant, and equipment, net |
|
|
|
$ |
663,593 |
|
|
$ |
657,752 |
|
Depreciation expense is recorded in the Condensed Consolidated Statements of Comprehensive Loss as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
(in thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Cost of operations |
|
$ |
6,663 |
|
|
$ |
6,453 |
|
|
$ |
13,240 |
|
|
$ |
12,972 |
|
Research and development |
|
|
679 |
|
|
|
773 |
|
|
|
1,457 |
|
|
|
1,547 |
|
Selling, general and administrative |
|
|
25 |
|
|
|
37 |
|
|
|
49 |
|
|
|
94 |
|
Total depreciation expense |
|
$ |
7,367 |
|
|
$ |
7,263 |
|
|
$ |
14,746 |
|
|
$ |
14,613 |
|
|