FIXED ASSETS, NET

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Fixed assets, net consist of the following:



	December 31, 2014			December 31, 2013
	(in thousands)
Land	$	11,370		$	11,464
Buildings and improvements	516,643			519,114
Machinery and equipment	934,951			918,093
Furniture and fixtures	18,620			19,794
Construction-in-progress	9,800			17,240
	1,491,384			1,485,705
Less: Accumulated depreciation and amortization	(1,333,103		)	(1,300,722		)
	$	158,281		$	184,983

Depreciation expense on fixed assets for the years ended December 31, 2014, 2013 and 2012 was $48.4 million, $66.6 million and $67.6 million, respectively. Fixed assets acquired under capital leases were not material at December 31, 2014, 2013 and 2012.

During the fourth quarter of 2014, management completed a strategic review of the XSense business. The Company assessed its assets for possible impairment as changes in circumstances indicated that the carrying value of the Company’s assets might not be recoverable. To test the assets for recoverability, the Company evaluated the estimated future cash flows expected from the use and eventual disposition of the assets, which involved assumptions related to the assets existing service potential, future expenditures needed to maintain the assets and possible salvage value of the assets. As a result, the Company recognized a non-cash impairment charge of $25.3 million related to impairment of fixed assets and $1.3 million related to write-off of equipment deposit which are included in the consolidated statements of operations as cost of revenue.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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