PROPERTY, PLANT, AND EQUIPMENT |
7. PROPERTY, PLANT, AND EQUIPMENT
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Buildings,
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Machinery
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leasehold
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Furniture and
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Office
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and
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Auto and
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improvements,
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fixtures
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equipment
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equipment
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trucks
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and land
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Total
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Cost
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As of January 1, 2019
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$
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–
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$
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–
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$
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–
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$
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–
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$
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–
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$
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–
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Acquired through combinations and acquisitions [Notes 1 & 4]
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722,346
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255,127
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1,472,366
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64,137
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18,991,013
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21,504,989
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Additions
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201,045
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57,359
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398,829
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66,161
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15,887,626
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16,611,020
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As of December 31, 2019
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$
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923,391
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$
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312,486
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$
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1,871,195
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$
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130,298
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$
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34,878,639
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$
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38,116,009
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Acquired through combinations and acquisitions [Notes 1 & 4]
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66,915
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49,519
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4,544,221
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–
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16,999,554
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21,660,209
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Additions
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85,610
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147,350
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317,723
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59,253
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12,476,063
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13,085,999
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Disposals
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–
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–
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–
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–
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(112,558)
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(112,558)
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As of December 31, 2020
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$
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1,075,916
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$
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509,355
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$
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6,733,139
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$
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189,551
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$
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64,241,698
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$
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72,749,659
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Accumulated Depreciation
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As of January 1, 2019
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$
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–
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$
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–
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$
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–
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$
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–
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$
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–
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$
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963,148
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Depreciation
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94,140
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41,736
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118,375
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13,978
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694,919
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963,148
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As of December 31, 2019
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$
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94,140
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$
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41,736
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$
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118,375
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$
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13,978
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$
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694,919
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$
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963,148
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Depreciation
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182,310
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101,086
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242,299
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40,126
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2,229,168
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2,794,989
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Disposals
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–
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–
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–
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–
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(112,558)
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(112,558)
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As of December 31, 2020
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$
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276,450
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$
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142,822
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$
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360,674
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$
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54,104
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$
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2,811,529
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$
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3,645,579
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Net book value
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As of January 1, 2019
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$
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–
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$
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–
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$
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–
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$
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–
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$
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–
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$
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–
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As of December 31, 2019
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$
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829,251
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$
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270,750
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$
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1,752,820
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$
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116,320
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$
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34,183,720
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$
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37,152,861
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As of December 31, 2020
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$
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799,466
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$
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366,533
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$
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6,372,465
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$
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135,447
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$
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61,430,169
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$
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69,104,080
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As of December 31, 2020 and December 31, 2019, buildings, leasehold improvements, and land include assets under construction of $18,600,528 and $17,146,625, respectively. As of December 31, 2020 and 2019, the Corporation capitalized borrowing costs of $1,360,605 and $710,459, respectively.
Depreciation expense relating to PPE for the years ended December 31, 2020 and 2019:
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Year Ended
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December 31,
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December 31,
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2020
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2019
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$
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$
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Cost of goods sold
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1,965,244
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599,654
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Expenses
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829,745
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363,494
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Total depreciation relating to PPE
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2,794,989
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963,148
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