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PROPERTY, PLANT AND EQUIPMENT, NET
12 Months Ended
Dec. 31, 2020
PROPERTY, PLANT AND EQUIPMENT, NET  
PROPERTY, PLANT AND EQUIPMENT, NET

7. PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net, consist of the following:

December 31, 

    

2019

    

2020

Cost

Buildings and plant

$

400,843

$

444,829

Machinery and equipment

 

821,582

 

880,554

Furniture, fixtures and equipment

 

44,550

 

55,437

Motor vehicles

 

905

 

1,123

Less: Accumulated depreciation

 

(288,194)

 

(381,685)

Property, plant and equipment, net

$

979,686

$

1,000,258

Construction in process

 

15,341

 

26,828

Total

$

995,027

$

1,027,086

Due to the change of management’s plan as described in Note 3, machinery and equipment of $43.1 million as well as plant of $5.1 million are reclassified from assets held for sale to property, plant and equipment as of December 31, 2019.

Depreciation expense was $27.7 million, $47.4 million and $68.7 million for the years ended December 31, 2018, 2019 and 2020, respectively.