This excerpt taken from the CBM 10-K filed Mar 15, 2007.
(7) Property, Plant and Equipment
During the fourth quarter of 2005 the Company performed an impairment assessment of long-lived assets, which includes amortizable intangible assets as well as property, plant and equipment. As a result of lower long term profitability projections, the Company determined that the sum of the undiscounted expected future operating cash flows were less than the carrying value of certain long-lived assets within the Biopharma segment. The Company recorded an impairment charge for long-lived assets in the fourth quarter of $13,581 in the Biopharma segment to write down these assets to their fair value as determined primarily based on appraisals.
CAMBREX CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(dollars in thousands, except share data) (Continued)
(7) Property, Plant and Equipment (continued)
Property, plant and equipment consist of the following:
Depreciation expense was $29,307, $30,835 and $33,412 for the years ended December 31, 2006, 2005 and 2004, respectively.