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IMPAIRMENT, DIVESTITURES AND SALES OF PROPERTY, PLANT, AND EQUIPMENT
12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
IMPAIRMENT, DIVESTITURES AND SALES OF PROPERTY, PLANT, AND EQUIPMENT IMPAIRMENT, DIVESTITURES, AND SALES OF PROPERTY, PLANT, AND EQUIPMENT
In 2024, the Company engaged in several transactions involving property, plant, and equipment. During the fourth quarter, the Company sold property, plant, and equipment with proceeds totaling approximately $1.6 million, recognizing a gain on the sale of approximately $0.5 million. During the third quarter, the Company sold property, plant, and equipment assets with proceeds totaling approximately $2.8 million, recognizing a nominal net gain on the sale. Finally, during the second quarter of 2024, the Company impaired approximately $1.0 million due to a construction-in-progress project that was no longer expected to be completed.
During the first quarter of 2022, the Company impaired approximately $1.0 million of construction-in-progress projects that were no longer expected to be completed. In addition, the Company sold a building (and the related land) for net proceeds of $1.1 million. A gain on sale of approximately $0.7 million was recognized as part of the sale.
The impairments and gains on sale of assets are included in Impairment and other, net in the Consolidated Statements of Operations.