Property, Plant and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT



(Dollars in thousands)	December 31, 2014			December 31, 2013
Land	$	14,045		$	14,986
Buildings and improvements	132,105			136,959
Machinery and equipment	165,979			160,843
Office equipment	36,810			34,972
Equipment in process	26,573			21,360
	375,512			369,120
Accumulated depreciation	(225,092		)	(222,189		)
Total property, plant and equipment, net	$	150,420		$	146,931

Depreciation expense was $20.1 million in 2014, $20.4 million in 2013, and $22.7 million in 2012. As part of the acquisition of Curamik in 2011, we acquired a capital lease on its facility in Eschenbach, Germany. At December 31, 2011 this capital lease was recorded in Property, plant and equipment in our consolidated statements of financial position for $12.1 million, net of accumulated depreciation. The total obligation recorded for the lease as of December 31, 2014 and 2013 was $6.8 million and $8.0 million, respectively. Depreciation expense related to the capital lease was $0.4 million, $0.4 million and $0.4 million for the years ending December 31, 2014, 2013 and 2012, respectively. Accumulated depreciation for the capital lease as of December 31, 2014 and 2013 was $1.6 million and $1.2 million, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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