Property, Plant and Equipment
|9 Months Ended|
Sep. 30, 2020
|Property, Plant and Equipment [Abstract]|
|PROPERTY, PLANT AND EQUIPMENT||PROPERTY, PLANT AND EQUIPMENT
The major components of property, plant and equipment were as follows:
For the three months ended September 30, 2020 and 2019, the Company recorded depreciation expense of $10.7 million and $10.1 million, respectively. For the nine months ended September 30, 2020 and 2019, the Company recorded depreciation expense of $31.7 million and $30.8 million, respectively.
During the third quarter of 2020, the Company met the requirements to classify a dormant facility in New Jersey, included in its Electronics segment, as held for sale. The current assets held for sale represent the net book value of the land of $17.2 million and the building of $2.7 million as of September 30, 2020. No impairment was identified. The Company received an initialdeposit of $3.6 million, which is included in "Other, net" in the Condensed Consolidated Statements of Cash Flows as a cash inflow from investing activities.
The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef