Fixed Assets

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Fixed Assets

Fixed Assets

Fixed assets consisted of the following:

	December 31,
	2021		2020
Land	$	—	$	9,333
Machinery and equipment	707,843		617,748
Capitalized software	488,837		443,400
Buildings and improvements	126,456		203,788
	1,323,136		1,274,269
Accumulated depreciation	(893,974)		(882,989)
Property, plant and equipment, net	$	429,162	$	391,280
Rental property and equipment	$	125,967	$	145,954
Accumulated depreciation	(91,193)		(107,519)
Rental property and equipment, net	$	34,774	$	38,435

Depreciation expense was $132 million, $127 million and $123 million for the years ended December 31, 2021, 2020 and 2019, respectively.

In November 2021, we entered into an agreement to sell our Shelton, Connecticut facility and simultaneously entered into a ten year lease agreement. This transaction did not close as of December 31, 2021, and accordingly, the net book value for the building and land of $36 million was classified as assets held-for-sale in other current assets and prepayments in the December 31, 2021 Consolidated Balance Sheet. See also Note 21 Subsequent Events.