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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2018
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Note 6 – Property, Plant and Equipment
| As of December 31,
(Dollars in thousands) | 2018 |  | 2017
Land | $ | 21,525 |  |  | $ | 14,620 |
Buildings and improvements | 175,279 |  |  | 135,191 |
Machinery and equipment | 256,301 |  |  | 238,000 |
Office equipment | 64,886 |  |  | 56,554 |
Property plant and equipment, gross | 517,991 |  |  | 444,365 |
Accumulated depreciation | (317,414 | ) |  | (289,909 | )
Property, plant and equipment, net | 200,577 |  |  | 154,456 |
Equipment in process | 42,182 |  |  | 25,155 |
Total property, plant and equipment, net | $ | 242,759 |  |  | $ | 179,611 |
Depreciation expense was $33.5 million in 2018, $29.3 million in 2017 and $26.6 million in 2016. Additionally, we recognized $1.5 million in impairment charges on certain assets in connection with the Isola asset acquisition. In the second quarter of 2017, we began actively marketing for sale unutilized property in Chandler, Arizona, consisting of a building and two adjacent parcels of land with an aggregate net book value of $0.9 million. In the second quarter of 2018, we completed the sale of the building and one parcel of land and recognized a gain on sale of approximately $0.4 million in operating income. The remaining parcel of land, which was previously classified as held for sale, had a net book value of $0.4 million and was reclassified in the third quarter of 2018 to held and used as the initial held for sale classification had surpassed one year. In the third quarter of 2017, we completed the sale of a facility located in Belgium that had been classified as held for sale as of June 30, 2017 and recognized a gain on sale of approximately $4.4 million in operating income. In the first quarter of 2017, we completed the planned sale of a parcel of land in Belgium that had been classified as held for sale as of December 31, 2016 and recognized a gain on sale of approximately $0.9 million in operating income.

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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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