Property, Plant and Equipment

3 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

7. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following:

	As of			As of
(In thousands)	March 31, 2024			December 31, 2023
Engineering and other equipment	$	184,330		$	183,336
Building		79,159			79,215
Computer hardware and software		111,354			101,572
Building and land improvements		57,491			58,238
Furniture and fixtures		21,536			21,368
Land		5,227			5,242
Total property, plant and equipment		459,097			448,971
Less: accumulated depreciation		(332,128	)		(325,951	)
Total property, plant and equipment, net	$	126,969		$	123,020

Long-lived assets used in operations are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable and the undiscounted cash flows estimated to be generated by the asset are less than the asset’s carrying value.

Depreciation expense was $7.2 million and $7.6 million for the three months ended March 31, 2024 and 2023, respectively, which is recorded in cost of revenue, selling, general and administrative expenses and research and development expenses in the Condensed Consolidated Statements of Loss.