Property, Plant and Equipment

3 Months Ended

Mar. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant And Equipment

Property, Plant and Equipment

Property, plant and equipment consist of the following:

	March 31, 2017			December 31, 2016
	(In thousands)
Land	$	215,566		$	240,719
Land use rights	26,845			26,845
Buildings and improvements	1,339,370			1,362,007
Machinery and equipment	4,580,400			4,483,523
Software and computer equipment	208,655			205,969
Furniture, fixtures and other equipment	22,133			21,313
Construction in progress	89,799			87,037
Total property, plant and equipment	6,482,768			6,427,413
Accumulated depreciation and amortization	(3,931,062		)	(3,862,765		)
Total property, plant and equipment, net	$	2,551,706		$	2,564,648

The following table summarizes our depreciation expense:

	For the Three Months Ended March 31,
	2017		2016
	(In thousands)
Depreciation expense	$	141,456	$	136,508

We had $46.8 million and $44.8 million of costs for our factory and research and development facility in Korea ("K5") in construction in progress as of March 31, 2017 and December 31, 2016, respectively.

As part of our plan to consolidate factory operations in Korea, we sold the land and buildings comprising our K1 factory in May 2017 for ₩162.1 billion ($142.4 million).  We received 10% of the sale price at signing in November 2016 and the balance at closing in May 2017. In May 2017, we recognized a pre-tax gain of $108.1 million. As of March 31, 2017, $34.3 million was classified as assets held for sale and recorded in other current assets in our Consolidated Balance Sheet.