XML 30 R17.htm IDEA: XBRL DOCUMENT v3.22.0.1
Property, Plant & Equipment, Net
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant & Equipment, Net Property, Plant and Equipment, Net
Property, plant and equipment, net, consisted of the following:
 December 31,
(in thousands)20212020
Land$13,450 $13,450 
Buildings73,559 70,381 
Machinery, equipment and fixtures83,608 77,854 
Computer software24,384 23,644 
Construction in progress10,686 11,254 
205,687 196,583 
Less: accumulated depreciation and amortization(88,915)(76,412)
Total property, plant and equipment, net$116,772 $120,171 
Depreciation and amortization expense related to property, plant & equipment, net, was $13.2 million, $12.5 million and $10.3 million for the years ended December 31, 2021, 2020 and 2019, respectively.
The Company tests long-lived assets for recoverability whenever events or changes in circumstances suggest that the carrying value of an asset or group of assets may not be recoverable. During the year ended December 31, 2021, the Company reviewed certain facts relating to an asset group that included the right-of-use (“ROU”) asset associated with the lease of office space in the World Trade Center (the “WTC lease”) in New York City and resulted in a change to the asset group due to the negotiation of a sublease. Please refer to Note 17, “Leases” for further details.
During the three months ended March 31, 2020, as a result of a decline in expected future cash flows and the effect of the COVID-19 pandemic related to certain other nuclear legacy manufacturing assets, the Company determined certain impairment triggers had occurred. Accordingly, the Company performed an undiscounted cash flow analysis as of March 31, 2020. Based on the undiscounted cash flow analysis, the Company determined that the manufacturing assets had net carrying values that exceeded their estimated undiscounted future cash flows. The Company then estimated the fair values of the asset group based on their discounted cash flows. The carrying value exceeded the fair value and as a result, the Company recorded a non-cash impairment of $7.3 million for the year ended December 31, 2020 in cost of goods sold in the consolidated statement of operations.
In connection with a contract termination in the fourth quarter of 2020, the Company transferred ownership of certain manufacturing assets and recorded a non-cash loss on disposal of assets of $1.8 million as well as paid $0.5 million, all of which is recorded in cost of goods sold in the consolidated statement of operations.