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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
7. PROPERTY, PLANT AND EQUIPMENT
 
Property, plant and equipment are stated at cost and are depreciated and amortized over a period of three to 39 years generally under the straight-line method for financial reporting purposes and accelerated methods for income tax purposes.
 
Property, plant and equipment as of December 31 were as follows (in thousands):

 
 
 
2018
 
 
2017
 
Land
 
$
2,089
 
 
$
2,089
 
Buildings and improvements
 
 
45,170
 
 
 
45,147
 
Machinery and equipment
 
 
208,135
 
 
 
243,392
 
Furniture and fixtures
 
 
7,239
 
 
 
6,320
 
Construction in-progress and deposits
 
 
9,251
 
 
 
4,120
 
 
 
 
271,884
 
 
 
301,068
 
Accumulated depreciation and amortization
 
 
(221,452
)
 
 
(259,712
)
Net balance
 
$
50,432
 
 
$
41,356
 
 
Depreciation expense for the years ended December 31, 2018, 2017 and 2016 was approximately $9,135,000, $8,763,000, and $8,304,000 respectively. As of December 31, 2018, the Company had approximately $8,862,000 of capital expenditure commitments.