Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net

8.Property, Plant and Equipment, Net

Property, plant, and equipment, which include assets recorded under finance leases, are stated at cost less accumulated depreciation, and amortization, and consist of the following:

	Expected Useful Lives	September 30,		December 31,
(dollars in thousands)	(in Years)	2024		2023
Buildings and improvements	7 – 40	$	9,397	$	9,115
Leasehold improvements	Shorter of life of improvement or lease term		649		686
Machinery and equipment	5 – 15		7,438		7,033
Computer equipment and software	3 – 8		27,394		26,324
Furniture and Fixtures	5 – 15		8,327		7,765
Finance lease right-of use assets	Shorter of life of the asset or lease term		1,786		1,764
			54,991		52,687
Less: Accumulated depreciation and amortization			(42,707)		(39,876)
Total property, plant and equipment, net		$	12,284	$	12,811

Depreciation expense related to property, plant and equipment was $0.6 million and $0.6 million for the three months ended September 30, 2024 and 2023, respectively, and $1.8 million and $2.0 million for the nine months ended September 30, 2024 and 2023, respectively.