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)20242023
Buildings$17,273 $17,806 
Computer equipment9,159 9,679 
Furniture and fixtures2,501 3,598 
Leasehold and building improvements29,404 33,049 
Machinery and equipment75,637 82,302 
Software25,411 28,074 
Tooling30,314 30,724 
189,699 205,232 
Accumulated depreciation(156,804)(163,301)
32,895 41,931 
Construction in progress1,312 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)20242023
Leasehold and building improvements$102 $623 
Machinery and equipment483 738 
Software 60 11 
Tooling638 1,197 
Other29 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)20242023
United States$9,683 $13,245 
PRC22,139 26,679 
Vietnam8,520 10,089 
Mexico5,164 9,227 
All other countries3,023 4,072 
Total long-lived tangible assets$48,529 $63,312