Property, Plant and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, Plant, and Equipment

Property, plant, and equipment as of December 31, 2021 and 2020 consisted of the following:

	December 31,
	2021		2020
Land	$	6,224	$	6,627
Improvements to land and leaseholds	15,416		17,573
Buildings	27,206		27,348
Machinery and equipment, including equipment under finance leases	112,021		116,175
Construction in progress	1,194		915
Gross property, plant, and equipment	162,061		168,638
Less: accumulated depreciation and amortization, including accumulated amortization of finance leases	(103,839)		(106,553)
Property, plant, and equipment - net	$	58,222	$	62,085

Depreciation expense, including amortization of assets under finance leases, for the years ended December 31, 2021 and 2020 amounted to $8,051 and $7,850, respectively.

There were no material asset impairments recorded for the year ended December 31, 2021.

On September 24, 2021, the Company executed the sale of its Piling Products division for $23,902 in total expected proceeds. The Company retained all pre-closing receivables and liabilities associated with the division. The sale included substantially all fixed assets held by the Company associated with the division. The Piling Products division was included in the Fabricated Steel Products business unit within the Steel Products and Measurement business segment.