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Property, Plant and Equipment and Leases | 12 Months Ended
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Dec. 31, 2017
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment and Leases | Property, Plant and Equipment, and Leases Property, plant and equipment by type were as follows:
(in thousands) |  | As of December 31,
|  |  |  |  |  | 2015 |  | 2014
Property, Plant and Equipment |  | 2017 |  | 2016 |  | (Restated) |  | (Restated)
Land |  | $ | — |  |  | $ | — |  |  | $ | 260 |  |  | $ | 260 |
Buildings |  | — |  |  | — |  |  | 1,471 |  |  | 1,471 |
Leasehold improvements |  | 6,320 |  |  | 6,199 |  |  | 6,450 |  |  | 3,333 |
Machinery and equipment |  | 27,379 |  |  | 24,490 |  |  | 23,523 |  |  | 17,500 |
Construction in progress |  | 2,036 |  |  | 2,084 |  |  | 2,466 |  |  | 3,566 |
Total property, plant and equipment, at cost |  | 35,735 |  |  | 32,773 |  |  | 34,170 |  |  | 26,130 |
Accumulated depreciation |  | (16,775 | ) |  | (12,646 | ) |  | (11,361 | ) |  | (8,176 | )
Property, plant and equipment, net |  | $ | 18,960 |  |  | $ | 20,127 |  |  | $ | 22,809 |  |  | $ | 17,954 |
Property, plant and equipment in 2016 includes a noncash conversion of inventory of $1.1 million purchased prior to 2016. Leases The Company leases certain buildings and equipment under various non-cancelable operating leases and a capital lease. Rent expense under operating leases approximated $4.7 million, $5.2 million, $4.9 million and $3.6 million for 2017, 2016, 2015 and 2014, respectively. Rent expense is recorded on a straight-line basis over the period of the lease term. The Company recognized the capital lease obligation of $0.4 million and related leased equipment based on the present value of the minimum lease payments at lease inception. The future minimum lease payments due under operating and capital leases in effect, as amended and extended, as of December 31, 2017, were as follows:
(in thousands) |  | Operating |  | Capital
2018 |  | $ | 4,341 |  |  | $ | 22 |
2019 |  | 4,136 |  |  | 21 |
2020 |  | 3,786 |  |  | 20 |
2021 |  | 3,482 |  |  | 20 |
2022 |  | 3,578 |  |  | 19 |
2023 and beyond |  | 3,202 |  |  | 51 |
Total |  | $ | 22,525 |  |  | $ | 153 |
In July 2018, the Company entered into the first and second lease amendments for two industrial buildings located in Wood Dale, Illinois. The extended terms of the lease amendments are from August 1, 2018 through and including July 31, 2023. These buildings are used for manufacturing, warehousing and certain administrative functions. Total base rental payments over these extended periods are $9.4 million and are included in the future minimum lease payments above. In December 2018, the Company entered into a new lease agreement for an industrial building located in Hanover Park, Illinois. The terms of the lease are from January 1, 2019 through and including July 31, 2023. This building is used primarily for operations, storage and certain administrative functions. Total base rental payments over the life of the lease are $4.2 million, which are not included in the future minimum lease payments above.

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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