1-For evaluation of the consolidated financial statements, the three most recent years are taken into consideration: financial years ending 2014, 2013 and 2012.
Balance of net property, plant and equipment are as follows:
|
Property, Plant & Equipment
|
31.12.2014
|
31.12.2013
|
31.12.2012
|
|
Land
|
22,360
|
21,683
|
21,687
|
|
Buildings
|
113,279
|
111,044
|
108,391
|
|
Machinery & Equipment
|
350,929
|
340,405
|
331,110
|
|
Construction in progress
|
1,641
|
3,403
|
2,539
|
|
Gross Property, Plant & Equipment
|
488,209
|
476,535
|
463,727
|
|
Less: Accumulated Depreciation
|
298,128
|
279,619
|
262,437
|
|
Net Property, Plant & Equipment
|
190,081
|
196,916
|
201,290
|
2-Analysis of the consolidated financial statements as well as the notes to the financial statements show that Tootsie Roll Industries, Inc. compute depreciation for financial reporting purposes by use of the straight-line method based on useful lives of 20 to 35 years for buildings and 5 to 20 years for machinery and equipment. Depreciation expense was $20,758, $20,050 and $19,925 in 2014, 2013 and 2012.