Property, Plant and Equipment

12 Months Ended

Dec. 31, 2016

Property Plant And Equipment [Abstract]

Property, Plant and Equipment

4.    Property, Plant and Equipment

Property, plant and equipment consisted of the following:

	December31, 2016			December 31, 2015
Land	$	28,098		$	22,403
Buildings and improvements		69,350			46,269
Machinery and equipment		239,669			222,526
		337,117			291,198
Less-Accumulated depreciation		(160,074	)		(145,785	)
	$	177,043		$	145,413

Management completed the plan to exit its owned Electromagnetic Clutches and Brakes facility in Allones, France. The facility was consolidated into the Company’s existing Electromagnetic Clutches and Brakes operation in Saint Barthelemy, France. The Company recognized an impairment loss on the building of approximately $1.1 million in 2015. The Company also completed the closure of its Couplings, Clutches and Brakes facility in Changzhou, China. The Company recognized impairment losses on the building of approximately $0.9 million in both 2016 and 2015. The impairments for the facilities in Allones, France and Changzhou, China were recognized in restructuring costs in the consolidated statement of income. Both of these buildings are actively being marketed by the Company and the Company expects to complete the sale of the properties within twelve months. The buildings, having a net book value of approximately $3.9 million and $4.6 million for the years ended December 31, 2016 and 2015, are classified as assets held for sale in the consolidated balance sheet.

The Company recorded $21.6 million, $21.6 million and $23.1 million of depreciation expense in the years ended December 31, 2016, 2015, and 2014, respectively.