Property and Equipment:

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment [Text Block]

Property, Plant and Equipment

Property, plant and equipment consists of the following (in thousands): 

	As of
	March 31, 2022		December 31, 2021
Machinery and equipment	$	432,649	$	321,078
Land, building and building improvements	289,866		243,377
Molds	60,499		60,463
Computer equipment and software	112,661		102,979
Furniture and fixtures	10,646		7,670
Instruments placed with customers(1)	103,257		97,384
Construction in progress	123,448		72,153
Total property, plant and equipment, cost	1,133,026		905,104
Accumulated depreciation	(458,614)		(436,739)
Property, plant and equipment, net	$	674,412	$	468,365

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(1)    Instruments placed with customers consist of drug-delivery and monitoring systems placed with customers under operating leases.

Depreciation expense was $21.4 million and $16.3 million for the three months ended March 31, 2022 and 2021, respectively.

During the quarter ended March 31, 2022, property, plant and equipment and related depreciation expense increased significantly due to the acquisition of Smiths Medical (see Note 3: Acquisitions).