Company: AWX
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001437749-25-025765
Chunk: 9

Company: AVALON HOLDINGS CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 is eliminated from the accounts in the year of disposal.

Property and equipment at June 30, 2025 and December 31, 2024 consists of the following (in thousands):

                                                      June 30,                    December 31,                
                                                      2025                        2024                        
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Land and land improvements                          $               17,071      $                   17,071  
  Buildings and improvements                                          54,752                          54,673  
  Machinery and equipment                                             10,402                           9,866  
  Office furniture and fixtures                                       10,630                          10,568  
  Vehicles                                                             1,125                           1,065  
  Construction in progress                                             1,382                           1,136  
                                                                      95,362                          94,379  
  Less accumulated depreciation and amortization                    ( 40,779                        ( 38,797  
  Property and equipment, net                         $               54,583      $                   55,582  

At June 30, 2025, the Company did nothave any significant fixed contractual commitments for construction projects.

Avalon reviews the carrying value of its long-lived assets whenever events or changes in circumstances indicate that its carrying amount may not be recoverable. If indicators of impairment exist, Avalon would determine whether the estimated undiscounted sum of the future cash flows of such assets and their eventual disposition is less than its carrying amount. If less, an impairment loss would be recognized if, and to the extent that the carrying amount of such assets exceeds their respective fair value. Avalon would determine the fair value by using quoted market prices, if available, for such assets; or if quoted market prices are not available, Avalon would discount the expected estimated future cash flows. During the first six months of 2025 and 2024, no triggering events were present.

Note 7. Leases

Operating Leases

Avalon leases golf carts, machinery and equipment for the landfill operations, furniture and fixtures for The Grand Resort and office copiers under operating leases. Our operating leases have remaining lease terms ranging from less than1year to3.5years. The weighted average remaining lease term on operating leases was approximately3.1years and4.0years at June 30, 2025 and December 31, 2024, respectively.

During the first six months of both 2025 and 2024