Annual report pursuant to Section 13 and 15(d)

Property, Buildings and Equipment

v3.19.1
Property, Buildings and Equipment
12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Property, Buildings and Equipment
Property, Buildings and Equipment
The following table presents the balances of major classes of properties as of December 31 as indicated:
 
Estimated useful lives in years
 
2018
 
2017
Land
 
$
670,400

 
$
530,221

Land improvements
7 - 15
 
537,175

 
495,484

Buildings and improvements
5 - 40
 
2,767,603

 
2,588,053

Leasehold improvements
5 - 39
 
254,385

 
252,646

Machinery and equipment
2 - 10
 
87,734,262

 
70,892,181

Construction in progress
 
23,313

 
241,369

Total
 
 
91,987,138

 
74,999,954

Less accumulated depreciation
 
 
43,060,083

 
38,927,654

Net properties, buildings and equipment
 
 
$
48,927,055

 
$
36,072,300


Management reviews the net carrying value of all properties, buildings and equipment on a regular basis to assess and determine whether trigger events of impairment exist and the need for possible impairments. As a result of such review, no impairment write-down was considered necessary for the years ended December 31, 2018 and 2017.