Property, Plant & Equipment

9 Months Ended

Sep. 30, 2012

Property, Plant & Equipment [Abstract]

6. Property, Plant & Equipment

The following is a summary of the Company's property, plant and equipment balances (in thousands of dollars):

	September 30,			December 31,
	2012			2011

Land	$	27,899		$	27,883
Land improvements		12,520			10,379
Buildings		144,037			137,923
Machinery and equipment		302,334			306,151
Furniture and fixtures		9,168			8,779
Computer equipment and software		37,480			16,359
Construction in progress		139,567			106,789
Total property, plant and equipment		673,005			614,263
Less accumulated depreciation		(278,934	)		(267,833	)
Total property, plant and equipment, net	$	394,071		$	346,430

Depreciation expense related to property, plant and equipment was $6.8 million and $5.5 million for the three months ended September 30, 2012 and 2011, respectively, and was $20.7 million and $15.8 million for the nine months ended September 30, 2012 and 2011, respectively.

The Romanian Government granted an economic incentive to the Company for the construction of the Romanian facility. This incentive is subject to employment requirements the Company must maintain for five years. For the nine months ended September 30, 2012 and 2011 capital expenditures were reduced by $19.6 million dollars and $0.0 million in the additions to property, plant, and equipment on the Condensed Consolidated Statements of Cash Flows as a result of the incentives received from the government.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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