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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are comprised of the following amounts:
| As of December 31,
2024 |  | 2023
Land and buildings | $ | 56,205 |  |  | $ | 61,007 |
Machinery and equipment | 339,792 |  |  | 375,352 |
Construction in progress | 6,569 |  |  | 3,466 |
Gross cost | 402,566 |  |  | 439,825 |
Less: Accumulated depreciation | 240,532 |  |  | 254,013 |
Property, plant and equipment, net | $ | 162,034 |  |  | $ | 185,812 |
For the years ended December 31, 2024, 2023, and 2022, we recorded depreciation expense of $31.6 million, $32.0 million, and $31.4 million, respectively. During the year ended 2024, we recognized $0.9 million of accelerated depreciation expense due to changes in the estimated remaining useful life of certain machinery and equipment. We monitor property, plant and equipment for any indicators of potential impairment. We recognized an impairment of $6.5 million for the year ended December 31, 2024, related to machinery and equipment located at a plant that will close in 2025. The machinery and equipment were adjusted down to their fair value, which was determined based on quoted market prices for similar assets. The impairment loss, which was reported within our Mobile Solutions group, is recognized in the “Other expense (income), net” line in the Consolidated Statements of Operations and Comprehensive Income (Loss). There were no impairment charges for the years ended December 31, 2023, and 2022.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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