PROPERTY, PLANT AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2021

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net consisted of the following (amounts in thousands):

	March 31, 2021		December 31, 2020
Land and improvements	$	42,574	$	43,943
Buildings and improvements	239,788		245,619
Machinery and equipment	576,208		583,847
Tools, dies and molds	110,247		111,189
Construction-in-process	14,005		11,282
	982,822		995,880
Less accumulated depreciation	(675,202)		(676,026)
	$	307,620	$	319,854

Depreciation on property, plant and equipment for the three months ended March 31, 2021 and 2020 totaled $11.9 million and $12.9 million, respectively.

The Company recorded a $2.6 million asset impairment charge during the three months ended March 31, 2020 related to certain machinery and equipment located at Titan Tire Reclamation Corporation (TTRC) in Canada as a result of market declines, which indicated the remaining book value of the equipment is more than the fair market value.