Property, Plant and Equipment

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

6) Property, Plant and Equipment

	Estimated	December 31,
	Useful Life	2011		2010
Land owned		$	5,851	$	5,985
Land under capital lease			1,378		501
Buildings and improvements owned	15-40 years		42,634		42,678
Buildings under capital lease	20 years		3,039		1,852
Machinery and equipment	3-12 years		237,051		234,153
Construction in process			8,434		14,418
			298,387		299,587
Less - accumulated depreciation			177,859		181,099
Property, plant and equipment, net		$	120,528	$	118,488

During the first quarter of 2011, we reduced machinery and equipment by $11,102 and accumulated depreciation by $9,759 for a net reduction in property, plant and equipment of $1,343 related to the Eltmann Plant deconsolidation. (See Note 1 of the Notes to Consolidated Financial Statements).

During the fourth quarter of 2011, property, plant and equipment increased for the addition of land and building totaling $1,948 acquired through a 20 year capital lease obligation at our Kunshan Plant effective October 1, 2011.

During the first quarter of 2010, we incurred $1,000 of accelerated depreciation to adjust certain assets that were to be abandoned as a result of NN ceasing operations at the Tempe Plant to the new estimated salvage values. (See Note 2 of the Notes to Consolidated Financial Statements).

During the third quarter of 2010, we sold machinery that ceased to be used at our Tempe Plant with a net book value of $2,230 in exchange for promissory notes receivable with a carrying value and estimated fair value of $1,562. (See Note 4 of the Notes to Consolidated Financial Statements).

As of December 31, 2010, the asset groups of the Wellington Plants and Eltmann Plant were tested for impairment pursuant to impairment testing relative to long-lived assets due to the losses incurred by the Wellington Plants during 2010 and the legally required bankruptcy filing on January 20, 2011 of Eltmann. The results of our analysis indicated impairment was not warranted for the Wellington Plants. The Eltmann production machinery was reduced by $308 to its current estimated fair value.