Property And Equipment

3 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Property And Equipment

Property and Equipment

Property and equipment consist of the following (in thousands):

	March 31, 2020			December 31, 2019
Machinery and equipment	$	283,000		$	296,078
Land, buildings and improvements	32,611			33,054
Furniture and fixtures	9,619			9,898
Leasehold improvements	7,305			9,023
Capitalized Software	6,430			3,509
Property and Equipment, gross	338,965			351,562
Less allowance for depreciation	(291,870		)	(304,955		)
Property and Equipment, net	$	47,095		$	46,607

Machinery and equipment includes demonstration units placed in provider locations which are depreciated to their estimated recoverable values over their estimated useful lives. In the fourth quarter of 2019, the company initiated the first stage of an Enterprise Resource Planning ("ERP") software implementation. As a result of the initiation of the ERP project, the company capitalized certain costs in accordance with ASC 350 as shown in capitalized software above.

In the third quarter of 2018, the company agreed to sell its Isny, Germany location with a net book value at the signing of the agreement of approximately $2,900,000, which is included in Land, buildings and improvements in the table above. In accordance with the agreement, control will not transfer to the buyer until April 2020; however, the company received an advance payment in 2018 of $3,524,000 representing a majority of the proceeds to be received, which was reflected in the investing section of the Consolidated Statement of Cash Flows and classified in Accrued Expenses in the Consolidated Balance Sheets. The company will continue to depreciate the building and expects to record a gain on the transaction when completed in 2020.