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Assets Held for Sale
9 Months Ended
Sep. 30, 2019
Property Plant And Equipment Assets Held For Sale Disclosure [Abstract]  
Assets Held for Sale

 


4.  Assets Held for Sale

As part of its ongoing strategy, the Company continues to evaluate its various real estate holdings. As a result of these initiatives, certain buildings were reclassified as held for sale in 2018 and 2019. Based on the estimated fair value of these buildings (using primarily third party offers considered to be Level 2 inputs), less estimated costs to sell, the Company recorded impairment charges of $0.9 million and $0.3 million during the nine months ended September 30, 2019 and 2018, respectively. No impairment charges were recorded during the quarters ended September 30, 2019 and 2018.  As of December 31, 2018, the Company had classified $4.4 million of buildings as held for sale, in Other Assets in the Condensed Consolidated Statements of Financial Position (Unaudited). No assets were classified as held for sale as of September 30, 2019. During the first nine months of 2019, the Company sold two buildings previously held for sale for total net proceeds of $7.4 million. These buildings were included in the Company’s Material Handling Segment.