Property, Plant and Equipment |
6 Months Ended |
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Jun. 30, 2018 | |
| Property, Plant and Equipment [Abstract] | |
| Property, Plant and Equipment |
Property, Plant and Equipment
As of June 30, 2018 and December 31, 2017, the Company presented 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 three and six months ended June 30, 2018 and 2017, respectively.
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 $2.3 million was recognized during the three and six months ended June 30, 2018.
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