PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Mar. 31, 2019

PROPERTY, PLANT AND EQUIPMENT [Abstract]

PROPERTY, PLANT AND EQUIPMENT

6.  PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

	March 31,			December 31,
	2019			2018
Land	$	1,430		$	2,251
Buildings and improvements		29,300			30,119
Machinery and equipment		127,488			126,747
Construction in progress		5,237			4,687
		163,455			163,804
Accumulated depreciation		(121,591	)		(119,872	)
Property, plant and equipment, net	$	41,864		$	43,932

Depreciation expense for the three months ended March 31, 2019 and 2018 was $2.5 million and $3.2 million, respectively.  Depreciation expense related to our manufacturing facilities and equipment is included in cost of sales and depreciation expense associated with administrative facilities and office equipment is included in selling, general and administrative expense within the accompanying condensed consolidated statements of operations.

Asset Held for Sale

During the first quarter of 2019, the Company finalized its plans to transition its manufacturing and warehousing operations from its Inwood, New York facility to Bel’s existing facilities in Glen Rock, Pennsylvania and the Dominican Republic.  In connection with this transition, the Company has classified $1.5 million of property, plant and equipment as held for sale on the accompanying condensed consolidated balance sheet at March 31, 2019.  The Company expects the transition to be complete by the end of the third quarter of 2019.