Property, Plant and Equipment

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

7. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following:


	As of			As of
(In thousands)	September 30, 2024			December 31, 2023
Engineering and other equipment	$	187,753		$	183,336
Building		79,857			79,215
Computer hardware and software		139,006			101,572
Building and land improvements		59,487			58,238
Furniture and fixtures		21,542			21,368
Land		5,248			5,242
Total property, plant and equipment		492,893			448,971
Less: accumulated depreciation		(345,465	)		(325,951	)
Total property, plant and equipment, net	$	147,428		$	123,020

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.

Depreciation expense was $8.7 million and $7.4 million for the three months ended September 30, 2024 and 2023, respectively, and $24.5 million and $22.6 million for the nine months ended September 30, 2024 and 2023, 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.