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Gain on Sale of Fixed Assets
9 Months Ended
Sep. 30, 2022
Property Plant And Equipment [Abstract]  
Gain on Sale of Fixed Assets

Note 5 – Gain on Sale of Fixed Assets

 

On July 15, 2022, we completed our sale to FDS Bedford, LLC of our former corporate headquarters located at 40 Middlesex Turnpike, Bedford, Massachusetts for total proceeds of $8.9 million less a brokerage commission of $0.3 million.

 

We previously recorded $2.9 million in "Long-Lived Assets held for sale" on the Consolidated Balance Sheet as of June 30, 2022, which consisted of $1.8 million in net property and equipment and $1.1 million in land. The assets had remaining deprecation scheduled of $1.8 million at the time of the sale. We recorded a gain of $5.7 million on the sale and disposed of these assets at the time of the sale.