Annual report [Section 13 and 15(d), not S-K Item 405]

Property and Equipment

v3.25.4
Property and Equipment
 12 Months Ended
Dec. 31, 2025
Property and Equipment [Abstract]  
PROPERTY AND EQUIPMENT.
6. PROPERTY AND EQUIPMENT.

 

Property and equipment consisted of the following (in thousands):

 

    December 31,  
    2025     2024  
Facilities and plant equipment   $ 431,371     $ 420,456  
Land     3,594       3,594  
Other equipment, vehicles and furniture     23,610       20,636  
Construction in progress     4,705       11,154  
      463,280       455,840  
Accumulated depreciation     (264,779 )     (241,098 )
    $ 198,501     $ 214,742  

 

Depreciation expense was $24,595,000, $23,820,000 and $22,492,000 for the years ended December 31, 2025, 2024 and 2023, respectively. The Company capitalized interest of $30,300, $2,517,000 and $2,454,000 for the years ended December 31, 2025, 2024 and 2023, respectively, related to its capital investment activities. The Company recorded property and equipment asset impairments of $803,000 and $19,000,000 for the years ended December 31, 2025 and 2024, respectively. The Company did not record any impairment on its property and equipment for the year ended December 31, 2023.

 

The Company’s property and equipment are substantially pledged as collateral under the Company’s Term Loan.