Property, Plant and Equipment

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

9. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following:


	As of			As of
(In thousands)	September 30, 2022			December 31, 2021
Engineering and other equipment	$	162,445		$	134,771
Building		80,807			68,157
Computer hardware and software		79,990			72,274
Building and land improvements		40,132			35,578
Furniture and fixtures		20,891			19,917
Land		5,298			4,575
Other assets		4,835			—
Total property, plant and equipment		394,398			335,272
Less: accumulated depreciation		(289,821	)		(279,506	)
Total property, plant and equipment, net	$	104,577		$	55,766

Long-lived assets used in operations are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable and the undiscounted cash flows estimated to be generated by the asset are less than the asset’s carrying value. In connection with the planned integration of information technology following the Business Combination, we determined that certain projects no longer fit our needs. As a result the Company recognized impairment charges of $17.0 million during the three and nine months ended September 30, 2022 related to capitalized implementation costs for a cloud computing arrangement. The impairment charges were determined based on actual costs incurred.

Depreciation expense was $7.1 million and $3.0 million for the three months ended September 30, 2022 and 2021, respectively, and $12.6 million and $9.1 million for the nine months ended September 30, 2022 and 2021, respectively, which is recorded in cost of revenue, selling, general and administrative expenses and research and development expenses in the Condensed Consolidated Statements of Loss.