XML 31 R14.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Property, Plant, and Equipment, Net | 12 Months Ended
--- | ---
Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Property, Plant, and Equipment, Net | Property, Plant, and Equipment, Net Property, plant, and equipment, net ("PP&E") were as follows:
| December 31,
(In thousands) | 2024 |  | 2023
Buildings | $ | 17,273 |  |  | $ | 17,806 |
Computer equipment | 9,159 |  |  | 9,679 |
Furniture and fixtures | 2,501 |  |  | 3,598 |
Leasehold and building improvements | 29,404 |  |  | 33,049 |
Machinery and equipment | 75,637 |  |  | 82,302 |
Software | 25,411 |  |  | 28,074 |
Tooling | 30,314 |  |  | 30,724 |
| 189,699 |  |  | 205,232 |
Accumulated depreciation | (156,804) |  |  | (163,301) |
| 32,895 |  |  | 41,931 |
Construction in progress | 1,312 |  |  | 2,688 |
Total property, plant, and equipment, net | $ | 34,207 |  |  | $ | 44,619 |
Depreciation expense was $12.9 million, $18.0 million and $19.9 million for the years ended December 31, 2024, 2023 and 2022, respectively. During the three months ended September 30, 2023, as part of our manufacturing footprint optimization efforts, we made the decision to close our southwestern PRC factory and manufacturing operations were stopped in September 2023. We also downsized and streamlined the Mexico operations by moving to a smaller, more efficient facility. As a result of these decisions, we recorded impairment charges of $7.7 million, of which $7.6 million and $0.1 million was recorded in cost of sales and SG&A expenses, respectively. In addition, during the year ended December 31, 2023, we recorded an additional $0.2 million of impairment charges, recorded in cost of sales, relating to the underutilization of property, plant and equipment in our other PRC-based factories. During the year ended December 31, 2022, we incurred $2.9 million in impairment charges, recorded in cost of sales, relating to the underutilization of certain property, plant and equipment in our Mexico factory. Construction in progress was as follows:
| December 31,
(In thousands) | 2024 |  | 2023
Leasehold and building improvements | $ | 102 |  |  | $ | 623 |
Machinery and equipment | 483 |  |  | 738 |
Software | 60 |  |  | 11 |
Tooling | 638 |  |  | 1,197 |
Other | 29 |  |  | 119 |
Total construction in progress | $ | 1,312 |  |  | $ | 2,688 |
We expect that most of the assets under construction will be placed into service during the first six months of 2025. We will begin to depreciate the cost of these assets under construction once they are placed into service. Long-lived tangible assets by geographic area, which include property, plant, and equipment, net and operating lease ROU assets, were as follows:
| December 31,
(In thousands) | 2024 |  | 2023
United States | $ | 9,683 |  |  | $ | 13,245 |
PRC | 22,139 |  |  | 26,679 |
Vietnam | 8,520 |  |  | 10,089 |
Mexico | 5,164 |  |  | 9,227 |
All other countries | 3,023 |  |  | 4,072 |
Total long-lived tangible assets | $ | 48,529 |  |  | $ | 63,312 |

X
- References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration