Impairment of Long-lived Assets
During the three months ended March 31, 2012, we recorded an impairment of $0.2 million related to certain assets which were previously held for sale that were determined to no longer be saleable and would be used for internal purposes. During the three months ended March 26, 2011, we recorded an impairment of $0.4 million related to the termination of aspects of an on-going project related to certain software development for internal use that had been recorded in construction-in-progress. These charges are included in ‘Impairment of long-lived assets’ in the Condensed Consolidated Statements of Operations in their respective periods.
We have not recorded any material impairment charges related to our assets that are held and used, restructuring activity, or intangible assets during the quarters ended March 31, 2012 or March 26, 2011.
Property, plant and equipment consisted of the following (in thousands):
Machinery and equipment
Computer equipment and software
Furniture and fixtures
Less: Accumulated depreciation, amortization and enterprise-wide impairment
At March 31, 2012, the carrying amount of our intangible asset, which consists of purchased intellectual property, was $2.9 million, with $5.9 million as the gross amount and $3.0 million as the accumulated amortization. We recorded $0.3 million of amortization expense for our intangible asset during the three months ended March 31, 2012, all of which was charged to cost of revenues. The intangible asset had a remaining amortization period of 2.5 years at March 31, 2012. The intangible asset is included in ‘Other assets’ in the Condensed Consolidated Balance Sheets.