Property and Equipment:

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment [Text Block]

Property, Plant and Equipment

Property, plant and equipment consists of the following (in thousands): 

	As of
	June 30, 2022		December 31, 2021
Machinery and equipment	$	407,580	$	321,078
Land, building and building improvements	271,723		243,377
Molds	75,765		60,463
Computer equipment and software	115,371		102,979
Furniture and fixtures	29,538		7,670
Instruments placed with customers(1)	110,592		97,384
Construction in progress	136,723		72,153
Total property, plant and equipment, cost	1,147,292		905,104
Accumulated depreciation	(479,509)		(436,739)
Property, plant and equipment, net	$	667,783	$	468,365

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(1)    Instruments placed with customers consist of drug-delivery and monitoring systems placed with customers under operating leases.

Depreciation expense was $24.9 million and $46.4 million for the three and six months ended June 30, 2022, respectively. Depreciation expense was $16.3 million and $32.7 million for the three and six months ended June 30, 2021 and 2021, respectively.

During the three and six months ended June 30, 2022, property, plant and equipment and related depreciation expense increased significantly due to the acquisition of Smiths Medical (see Note 3: Acquisitions).