Property, Plant and Equipment

9 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

Property, Plant and Equipment

Property, plant and equipment consists of the following:

	September 30, 2019			December 31, 2018
Land and improvements	$	66,483		$	72,931
Buildings and improvements	308,283			313,722
Machinery and equipment	1,129,253			1,076,369
Construction in progress	187,079			192,533
	1,691,098			1,655,555
Accumulated depreciation	(729,305		)	(671,314		)
Property, plant and equipment, net	$	961,793		$	984,241

Due to the termination of certain customer programs in the Asia Pacific region, the Company recorded an impairment charge related to machinery and equipment of $1,958 during the three months ended September 30, 2019. The fair value of machinery and equipment was determined using estimated salvage value, which was deemed the highest and best use of the assets.

Impairment charges of $4,146 recorded during the nine months ended September 30, 2019 also included an impairment charge recorded in the second quarter related to machinery and equipment due to the continuing adverse financial results in certain Asia Pacific locations. The fair value of buildings and machinery and equipment was determined using market value and estimated orderly liquidation value, respectively, which was deemed the highest and best use of the assets.

During the three months ended September 30, 2018, the Company realized a gain on sale of land of $10,714 in its Europe segment. The net book value of the land was $5,446. The sale of land was contemplated in conjunction with the Company’s restructuring plan.