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Property, Plant and Equipment, Net
3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Property, plant and equipment, net, consisted of the following:
(in thousands)March 31,
2023
December 31,
2022
Land$9,480 $13,450 
Buildings68,183 76,329 
Machinery, equipment and fixtures99,289 92,604 
Computer software26,294 25,864 
Construction in progress24,261 14,047 
227,507 222,294 
Less: accumulated depreciation and amortization(100,029)(100,128)
Total property, plant and equipment, net$127,478 $122,166 
Depreciation and amortization expense related to property, plant and equipment, net, was $3.4 million and $3.1 million for the three months ended March 31, 2023 and 2022, respectively.
Long-Lived Assets Held for Sale
During the first quarter of 2023, the Company committed to a plan to sell a portion of its land and buildings associated with its Billerica, Massachusetts campus. Effective March 16, 2023, the Company entered into a purchase and sale agreement (the “P&S”) with a prospective buyer. The assets were classified as held for sale and comprised entirely of property, plant and equipment, net. The Company determined that the fair value of the net assets being sold exceeded the carrying value as of March 31, 2023. The purchase price for the campus sale is $10.0 million in cash. The transaction is expected to close during the second half of 2023.