LucD,
I am able to fix as below, let me know, if any changes needs to done.
$foundRunning = $false
Get-Folder | Get-VM | Select @{N="Folder";E={$_.Folder.Name}},
Name,
@{N="IP Address";E={$_.guest.IPAddress[0]}},
@{N="VM PowerState";E={@($_.PowerState)}},
@{N="OS"; E={@($_.guest.OSFullName)}},
@{N="VM_Hardware_Ver"; E={@($_.HardwareVersion)}},
@{N="Tools_Status";E={$_.ExtensionData.Guest.ToolsStatus}},
@{N="Tools_State";E={$_.ExtensionData.Guest.GuestState}},
@{N="Tools_Version";E={$_.ExtensionData.Config.Tools.ToolsVersion}},
@{N="ToolsInstallType";E={$_.ExtensionData.Guest.ToolsInstallType}},
@{N="ToolsUpgradePolicy";E={$_.ExtensionData.Config.Tools.ToolsUpgradePolicy}},
@{N="Extended_Tools_Status";E={
if($_.Guest.ExtensionData.ToolsInstallType -like "guestToolsTypeOpenVMTools*" -and $_.Guest.Extensiondata.ToolsRunningStatus -eq "guestToolsRunning"){
"Running"
$foundRunning = $true
}elseif(!$foundRunning){
$_.Guest.Extensiondata.ToolsVersionStatus.Replace("guestToolsNeedUpgrade","Out of date").Replace("guestToolsNotInstalled","Not installed").Replace("guestToolsCurrent","Current").Replace("guestToolsUnmanaged","Unmanaged")
}
}} | Export-Excel -Path $reportlocation