PLANT, PIPELINE AND EQUIPMENT
|6 Months Ended|
Jun. 30, 2016
|PLANT, PIPELINE AND EQUIPMENT [Abstract]|
|PLANT, PIPELINE AND EQUIPMENT||
6. PLANT, PIPELINE AND EQUIPMENT
Plant, pipeline and equipment consisted of the following:
Plant, pipeline, and equipment serve as collateral for our amended and restated credit agreement. See Note 10.
Interest capitalized for construction was approximately $41,000 and $72,000 for the three and six months ended June 30, 2016 and $56,000 and $95,000 for the three and six months ended June 30, 2015.
Construction in progress during the first six months of 2016 included equipment purchased for the hydrogenation expansion, the new reformer unit, a new custom processing unit, and a new cooling tower which is associated with our D train expansion.
In May 2016 we purchased the recently shuttered BASF facility adjacent to our TC facility. See Note 7 for additional information.
Amortization relating to the platinum catalyst which is included in cost of sales was $25,488 and $21,067 for the three months and $46,555 and $42,135 for the six months ended June 30, 2016, and 2015, respectively.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://www.xbrl.org/2003/role/presentationRef