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Property, Plant, and Equipment and Assets Held for Sale | 12 Months Ended
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Dec. 31, 2017
Property, Plant, and Equipment and Assets Held for Sale |
Property, Plant, and Equipment and Assets Held for Sale | Note 8 — Property, Plant, and Equipment and Assets Held for Sale Property and equipment, net, consist of the following:
|  | December 31, |  | Average |
|  | 2017 |  | 2016 |  | Useful Life |
|  | (in thousands) |  |  |
Land |  | $ | 5,669 |  | $ | 5,669 |  | N/A |
Building and improvements |  | 54,449 |  | 50,814 |  | 10 – 40 years |
Machinery and equipment(1) |  | 126,829 |  | 99,370 |  | 3 – 10 years |
Leasehold improvements |  | 10,073 |  | 3,652 |  | 3 – 7 years |
Gross property, plant, and equipment |  | 197,020 |  | 159,505 |  |  |
Less: accumulated depreciation and amortization |  | 111,962 |  | 98,859 |  |  |
Net property, plant, and equipment |  | $ | 85,058 |  | $ | 60,646 |  |  |
| (1) |  | Machinery and equipment also includes software, furniture and fixtures
Depreciation expense was $14.6 million, $13.4 million, and $12.2 million for the years ended December 31, 2017, 2016, and 2015, respectively. During 2016, the Company decided to reduce future investments in certain technologies and, as a result, recorded an impairment charge of $3.3 million of property, plant, and equipment. As part of the Company’s efforts to reduce costs, enhance efficiency, and streamline operations, the Company removed certain lab equipment that is no longer required and recorded a non-cash impairment charge of $6.2 million for the year ended December 31, 2016. Additionally, as part of that initiative, the Company listed its two facilities in South Korea for sale. When each facility was reclassified as held for sale, the Company determined that the carrying values of the buildings exceeded their fair market values, less cost to sell, and recorded net impairment charges of $4.5 million for the year ended December 31, 2016. Both facilities were sold before the end of 2016 at prices that approximated the revised carrying values. Finally, during the year ended December 31, 2016, the Company recorded an impairment charge of approximately $1.2 million related to an owned property in St. Paul, Minnesota. The property was sold during 2017, resulting in an additional impairment charge of $0.7 million for the year ended December 31, 2017. There were no assets held for sale as of December 31, 2017 and 2016. All impairment charges were recorded in “Asset impairment” in the Consolidated Statements of Operations.

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2921-110230 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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