Property, Plant and Equipment, net

6 Months Ended

Dec. 31, 2021

Property, Plant and Equipment, net

Property, Plant and Equipment, net

Note 7. Property, Plant and Equipment, net

Property, plant and equipment, net at December 31, 2021 and June 30, 2021 consisted of the following:

		December 31,		June 30,
(In thousands)	Useful Lives	2021		2021
Land	—	$	533	$	1,783
Building and improvements	10 - 39 years		93,401		103,082
Machinery and equipment	5 - 10 years		163,352		166,617
Furniture and fixtures	5 - 7 years		3,367		3,399
Less accumulated depreciation			(129,529)		(123,294)
			131,124		151,587
Construction in progress			11,980		15,087
Property, plant and equipment, net		$	143,104	$	166,674

As a result of the 2021 Restructuring Plan, the Company performed a fair value analysis of the Silarx facility and certain equipment at the facility, which resulted in an $8.4 million impairment charge in the second quarter of Fiscal 2022. The land, facility and equipment identified for sale, totaling $10.5 million, was reclassified to the assets held for sale caption in the Consolidated Balance Sheet as of December 31, 2021.

Depreciation expense for the three months ended December 31, 2021 and 2020 was $5.5 million and $5.7 million, respectively. Depreciation expense for the six months ended December 31, 2021 and 2020 was $11.1 million and $11.5 million, respectively.

Property, plant and equipment, net included amounts held in foreign countries in the amount of $0.6 million at December 31, 2021 and June 30, 2021.