PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

A summary of property, plant and equipment as of September 30, 2024 and December 31, 2023 is as follows (in thousands):

	September 30, 2024		December 31, 2023
	(unaudited)
Land	$	4,006	$	4,006
Buildings and leasehold improvements	61,183		60,827
Machinery and equipment	293,302		286,376
Furniture and fixtures	10,862		10,804
Capitalized ERP system development costs	45,903		45,903
Computers and computer software	19,510		20,067
Automobiles	2,865		3,215
Construction in progress	630		6,634
Total	438,261		437,832
Accumulated depreciation	(321,771)		(310,775)
Property, plant and equipment, net	$	116,490	$	127,057

Included in the table above are assets under finance leases of $8.5 million as of September 30, 2024 and December 31, 2023, and related accumulated amortization of $3.8 million and $3.3 million as of September 30, 2024 and December 31, 2023, respectively.

Depreciation expense for the three months ended September 30, 2024 and 2023 was $5.1 million and $5.4 million, respectively, of which $3.4 million and $3.6 million, respectively, was included in “Operating expenses” and $1.7 million and $1.8 million, respectively, was included in “Selling, general and administrative expenses” on our Condensed Consolidated Statements of Operations. Depreciation expense for the nine months ended September 30, 2024 and 2023 was $15.7 million and $16.5 million, respectively, of which $10.5 million and $11.0 million, respectively, was included in “Operating expenses” and $5.2 million and $5.5 million, respectively, was included in “Selling, general and administrative expenses” on our Condensed Consolidated Statements of Operations.