Property and Equipment:

9 Months Ended

Sep. 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
	September 30, 2022		December 31, 2021
Machinery and equipment	$	409,349	$	321,078
Land, building and building improvements	272,426		243,377
Molds	75,874		60,463
Computer equipment and software	114,378		102,979
Furniture and fixtures	29,110		7,670
Instruments placed with customers(1)	106,245		97,384
Construction in progress	147,099		72,153
Total property, plant and equipment, cost	1,154,481		905,104
Accumulated depreciation	(498,098)		(436,739)
Property, plant and equipment, net	$	656,383	$	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 $23.0 million and $69.4 million for the three and nine months ended September 30, 2022, respectively. Depreciation expense was $16.4 million and $49.1 million for the three and nine months ended September 30, 2021, respectively.

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