Property, Plant and Equipment |
9 Months Ended |
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Sep. 30, 2018 | |
| Property, Plant and Equipment [Abstract] | |
| Property, Plant and Equipment |
Property, Plant and Equipment
In August of 2018, the Company sold an eight-acre property in Provo, Utah for $2.7 million. The Company originally acquired the property with the intent to erect a building for the corporate headquarters and later decided to move the headquarters elsewhere. As the fair value of the property exceeded the carrying value, a net gain of $1.7 million was recognized during the three and nine months ended September 30, 2018.
In June of 2018, the Company sold a 29,300 square foot building in Mexico City, Mexico for $2.6 million. The Company previously utilized the building for offices as well as warehouse space and has since relocated to a more advantageous location. As the fair value of the property exceeded the carrying value, a net gain of $0 and $2.3 million were recognized during the three and nine months ended September 30, 2018, respectively.
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