Property And Equipment

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property And Equipment

Property and Equipment

Property and equipment as of December 31, 2019 and 2018 consist of the following (in thousands):

	2019			2018
Machinery and equipment	$	296,078		$	301,039
Land, buildings and improvements	33,054			37,606
Furniture and fixtures	9,898			9,898
Leasehold improvements	9,023			8,847
Capitalized software	3,509			—
Property and Equipment, gross	351,562			357,390
Less allowance for depreciation	(304,955		)	(311,406		)
Property and Equipment, net	$	46,607		$	45,984

Machinery and equipment includes demonstration units placed in provider locations which are depreciated to their estimated recoverable values over their estimated useful lives. In the fourth quarter of 2019, the company initiated the first stage of an Enterprise Resource Planning ("ERP") software implementation. As a result of the initiation of the ERP project, the company capitalized certain costs in accordance with ASC 350 as shown in capitalized software above. In the third quarter of 2018, the company agreed to sell its Isny, Germany location with a net book value at the signing of the agreement of approximately $2,900,000, which is included in Land, buildings and improvements in the table

above. In accordance with the agreement, control will not transfer to the buyer until April 2020; however, the company received an advance payment of $3,524,000 representing a majority of the proceeds to be received, which is reflected in the investing section of the Consolidated Statement of Cash Flows and classified in Accrued Expenses in the Consolidated Balance Sheets. The company will continue to depreciate the building and expects to record a gain on the transaction when completed in 2020.