Annual report pursuant to Section 13 and 15(d)

Property, Plant and Equipment

v3.6.0.2
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2016
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
Property, Plant and Equipment
Property, plant and equipment consist of the following: 
 
2016
 
2015
Land (1)
$
62,916

 
$
1,819,736

Land improvements(1)
120,915

 
852,976

Buildings (1)
641,526

 
24,631,349

Machinery, fixtures and equipment
66,099,880

 
61,928,770

Machinery and equipment under capital lease
199,767

 
107,287

Construction-in-progress
5,418,397

 
7,158,098

 
72,543,401

 
96,498,216

Less accumulated depreciation
45,219,309

 
50,203,945

Property, plant and equipment, net
$
27,324,092

 
$
46,294,271

 
(1) On September 30, 2016, the Company completed the sale of substantially all of its real estate properties (land, land improvements and buildings) to Store Funding. Concurrently, the Company leased back all real properties sold to Store Funding (see Note 12).
The Company recorded depreciation expense from continuing operations of $4,235,000, $4,357,000, and $3,725,000 for 2016, 2015 and 2014, respectively. Accumulated depreciation includes $25,300 and $5,400 at December 31, 2016 and December 31, 2015, respectively, for assets acquired under capital leases.