Property, Plant and Equipment

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Note 8. Property, Plant and Equipment

Property, plant and equipment include the following:

(in thousands)	March 31, 2024			December 31, 2023
Land	$	47		$	2,342
Buildings and improvements		3,409			9,484
Machinery and other equipment		5,070			5,182
Office furniture and fixtures		947			1,016
Construction in progress		2			-
Total properties, cost		9,475			18,024
Less: accumulated depreciation		(5,189	)		(5,804	)
Property, plant and equipment, net	$	4,286		$	12,220

As discussed in Note 1, the Company sold the Digital Ignition business during the second quarter of 2024. As a result, the property, plant and equipment used in the business has been reclassified to assets held for sale as of March 31, 2024.

Depreciation expense approximated $0.2 million during each of the three months ended March 31, 2024 and 2023.