PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

A summary of property, plant and equipment as of December 31, 2023 and 2022 is as follows (in thousands):


	December 31,
	2023		2022
Land	$	4,006	$	4,006
Buildings and leasehold improvements	60,827		50,833
Machinery and equipment	286,376		277,852
Furniture and fixtures	10,804		10,558
Capitalized ERP system development costs	45,903		45,917
Computers and computer software	20,067		19,457
Automobiles	3,215		3,536
Construction in progress	6,634		19,196
Total	437,832		431,355
Accumulated depreciation and amortization	(310,775)		(293,256)
Property, plant, and equipment, net	$	127,057	$	138,099

Included in the table above are assets under finance leases of $8.5 million and $7.4 million and related accumulated amortization of $3.3 million and $2.3 million as of December 31, 2023 and 2022, respectively. Depreciation expense for the years ended December 31, 2023 and 2022 was $21.8 million, and $22.9 million respectively.

Assets sold and disposed of during the twelve months ended December 31, 2023 and 2022 had a carrying value of $0.2 million and $2.5 million, respectively, resulting in a gain on sale of $0.2 million and $4.2 million, respectively. The assets sold for the twelve months ended December 31, 2023 consisted of $0.1 million in machinery and equipment and $0.1 million primarily in leasehold improvements. The assets sold for the twelve months ended December 31, 2022 primarily consisted of $1.3 million in land, $0.9 million in buildings and $0.3 million in machinery and equipment.