Property, Plant and Equipment

6 Months Ended

Jun. 30, 2018

Property, Plant and Equipment

Note 12. Property, Plant and Equipment

Property, plant and equipment, at cost, consisted of the following (in thousands):

	June 30, 2018			December 31, 2017
Land	$	26,652		$	68,562
Buildings and leasehold improvements		204,579			205,534
Machinery and equipment		453,702			466,325
		684,933			740,421
Less: Accumulated depreciation		(384,942	)		(367,954	)
Total property, plant and equipment, net	$	299,991		$	372,467

In February 2018, the Company announced an agreement to sell its manufacturing facility in New Taipei City, Taiwan, along with certain manufacturing fixed assets. The aggregate consideration for the acquired assets is $81.3 million ($75.0 million for the facility and land, plus $6.3 million for the manufacturing fixed assets). As a condition of sale, the Company will indemnify the buyer for certain environmental obligations up to $7.0 million. The assets have been reclassified as held for sale and were measured at their carrying amount. Total assets held for sale at June 30, 2018 were $58.1 million, which is reported in the Consolidated Balance Sheets as a component of “Other current assets.” The sale is expected to close in the second half of 2018.