Annual report pursuant to Section 13 and 15(d)

PROPERTY, PLANT AND EQUIPMENT

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PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 2017
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT
PROPERTY, PLANT AND EQUIPMENT
 
The composition of property, plant and equipment is as follows (dollar amounts in thousands):
As of December 31,
 
2017
 
2016
Land and improvements
 
$
841

 
$
1,996

Buildings and improvements
 
30,760

 
30,277

Machinery and equipment
 
25,160

 
23,699

Furniture and fixtures
 
20,385

 
19,962

Computer software and hardware
 
51,632

 
49,340

 
 
128,778

 
125,274

Accumulated depreciation and amortization
 
(59,672
)
 
(52,002
)
Total property, plant and equipment
 
$
69,106

 
$
73,272


 
Depreciation expense was $8.5 million, $4.7 million, and $4.4 million for the years ended December 31, 2017, 2016 and 2015, respectively.

Capitalized interest was $0.1 million, $0.2 million, and $0 for the years ended December 31, 2017, 2016 and 2015, respectively.

In January of 2017, the Company sold a 53 acre property in Springville, Utah. At December 31, 2016, $0.5 million of land and improvements was classified as held for sale and an impairment of $0.2 million was recognized for the year ended December 31, 2016.

As of December 31, 2017, the Company reclassified an eight-acre property in Provo, Utah, as an asset held for sale. The Company originally acquired the property with the intent to erect a building for the corporate headquarters. As there is no intention to move the corporate headquarters to this location, Company management decided to sell the property. The property is currently under contract to sell. The Company anticipates the sale of the property to be completed during 2018. As the fair value of the property exceeds the carrying value, no loss was recognized during the year ended December 31, 2017.