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10-Q/A - FOR QUARTERLY PERIOD ENDED JUNE 30, 2011 - NEDAK ETHANOL, LLCform10qa_091411.htm
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v2.3.0.11
Property and Equipment
6 Months Ended
Jun. 30, 2011
Property and Equipment  
Property and Equipment
5.  PROPERTY AND EQUIPMENT

Property and equipment consisted of the following as of June 30, 2011 and December 31, 2010:

 
June 30, 2011
 
December 31, 2010
Land and improvements
$                      4,408,272
 
$                 4,408,272
Buildings
9,121,024
 
9,121,024
Plant equipment
73,209,116
 
73,216,667
Office equipment
200,575
 
200,575
Vehicles
560,383
 
560,383
 
87,499,370
 
     87,506,623
Less accumulated depreciation
(15,380,237)
 
   (12,346,599)
Net property and equipment
$               72,119,133
 
$               75,160,322

Depreciation expense for the six months ended June 30, 2011 and 2010 was $3,034,468 and $3,029,463, respectively.
 
Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.  In accordance with the Company's policy for evaluating impairment of long-lived assets, management has estimated that the projected future undiscounted cash flows from operations of these facilities exceed their carrying value at June 30, 2011; therefore no impairment loss was recognized.