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, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT
 5. PROPERTY, PLANT AND EQUIPMENT
The components of property, plant and equipment (“PPE”) are as follows:
As of December 31,
2023 2022
Buildings and building components $ 88,527  $ 80,697 
Land 12,956  14,085 
Leasehold improvements 46,660  43,472 
Machinery and equipment 27,050  27,615 
Furniture, fixtures and office equipment (including computer) 21,146  16,126 
Construction-in-process 1,968  20,086 
Total property, plant and equipment - gross 198,307  202,081 
Less: Accumulated depreciation (39,039) (24,326)
Total property, plant and equipment - net $ 159,268  $ 177,755 
Construction-in-process represents assets under construction for manufacturing and retail build-outs not yet ready for use. Construction-in-process decreased from $20,086 at December 31, 2022 to $1,968 at December 31, 2023 primarily due to project completion and closeouts at the Manassas, VA facility, and two retail store locations.
Total depreciation, including depreciation from assets held under finance leases (which are reflected separately in the consolidated balance sheets), was $23,319, $23,898 and $8,808 for the years ended December 31, 2023, 2022 and 2021, respectively. Interest expense capitalized to PPE totaled $523, $2,616 and $977 for the years ended December 31, 2023, 2022 and 2021, respectively.

As of December 31, 2023, the Company reclassified $1,647 from Property, plant and equipment, net to Assets held for sale. Refer to Note 4 - Prepaid Expenses and Other Current Assets for additional information.